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.
Escudero says new lease law to make PH more appealing to investors
He thanked President Ferdinand Marcos Jr. for supporting the measure., This news data comes from:http://jyxingfa.com
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.
- Sara Duterte calls DPWH flood control Inquiry a 'Zarzuela'
- Wife and ally of ousted SKorean president indicted by special prosecutors
- Malacañang calls plot to jail VP Duterte 'wild imagination'
- Napolcom confirms Lt. Gen. Nartatez as acting PNP chief
- Need to pee? Japan has QR code for that
- DOTr denies ordering shutdown of online selling platforms
- Dizon to order DPWH officials to submit courtesy resignation
- Go seeks more support for Filipino athletes
- Mexican drug lord faces life in prison after pleading guilty in US court
- UK refuses to invite Israeli government officials to London arms fair over the war in Gaza
