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., This news data comes from:http://ed-nkuy-hwm-mkvh.705-888.com
Escudero says new lease law to make PH more appealing to investors
He thanked President Ferdinand Marcos Jr. for supporting the measure.
The president on Saturday signed Republic Act 12252.
Escudero says new lease law to make PH more appealing to investors
This new law amends the Investors' Lease Act by extending the lease period limit of 75 years.
- North Korean leader inspects new missile factory ahead of visit to China
- Israeli protesters demand hostage deal as cabinet meets
- China's Xi holds talks with North Korea's Kim in Beijing
- Support grows for independent probe into flood control projects
- Bonoan resigns, Dizon named DPWH chief
- Vico encourages citizens on Heroes’ Day to be brave
- Marcos says commission on DPWH anomalies to be finalized 'very soon,' mum on Magalong participation
- Undersea cables cut in the Red Sea, disrupting internet access in Asia and the Mideast
- Suspect in 2012 killing of Dutch aid worker freed
- Marcos signs laws creating more court branches
