MANILA, Philippines — Senate President Francis Escudero is confident that a new law which allows foreign investors to lease private land for up to 99 years woll make the country look more like an ideal investment destination.
"Foreign investors have long complained about the prohibitive provisions of our laws regarding the ownership of land by non-Filipinos. Businesses will never place their funds in destinations where there is uncertainty in laws and regulations. This law will go a long way in addressing these concerns," Escudero, an author of the law, said in a statement on Saturday.
He thanked President Ferdinand Marcos Jr. for supporting the measure.
Escudero says new lease law to make PH more appealing to investors
The president on Saturday signed Republic Act 12252.
This new law amends the Investors' Lease Act by extending the lease period limit of 75 years., This news data comes from:http://www.aichuwei.com
- Thailand's former Prime Minister Thaksin makes surprise departure ahead of a risky court ruling
- Unnamed skeletons? US museum at center of ethical debate
- No Filipino fatalities in New York Tour-Bus crash, says DFA
- Marcos signs laws creating more court branches
- Japanese city proposes 2-hour daily smartphone limit
- PAL plane bound for Osaka returns to Manila due to 'emergency' situation
- Puno seeks probe of anomalous projects ‘funders’
- Mexican drug lord faces life in prison after pleading guilty in US court
- Customs recovers 10 more Discaya luxury cars
- Chery Tiggo survives Creamline in cardiac five-setter in PVL Invitationals
