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://aichuwei.com
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.
- DSWD allocates P6.2B for livelihood program
- South Korea to ban mobile phones in school classrooms
- Mexican boxer Chavez Jr. released from prison pending trial
- DOTr denies ordering shutdown of online selling platforms
- Roxas matriarch, 91
- Brawner orders troops: Stop China from boarding BRP Sierra Madre at all costs
- Trump moves to cut more foreign aid, risking shutdown
- Vico Sotto could challenge VP Sara in 2028 race – survey
- PH, Australia, Canada hold maritime drills in West Philippine Sea
- China's Communist rulers push party role before World War II anniversary
