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., This news data comes from:http://nhd-txou-gsw-tg.xs888999.com
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.
- 2,000 North Korean troops killed in Russia deployment: Seoul spy agency
- Marcos orders lifestyle checks on all government officials amid flood control probe
- DoJ to begin preliminary investigation into missing cockfighting enthusiasts
- Typhoon death toll rises in Vietnam as downed trees hamper rescuers
- Pag-IBIG: More than 25k register for socialized housing units under Expanded 4PH
- PH Navy spots 20 Chinese ships near BRP Sierra Madre
- Escudero subpoenaes 10 DPWH contractors for Senate probe next week
- PNP chief Torre relieved from post — Palace
- 15 people hospitalized after double-decker bus crashes outside London's Victoria Station
- Vico encourages citizens on Heroes’ Day to be brave
