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://aichuwei.com
Escudero says new lease law to make PH more appealing to investors
- Duterte defense files more motions challenging ICC prosecutor
- Trump wants to meet Norea Korea's Kim again
- NATO members to reach 2% defense spending goal this year
- PH, Australia commend ‘impressive’ joint sea drills
- Chinese bridge collapse kills at least 12 construction workers
- Philippines calls for Gaza ceasefire amid humanitarian crisis
- 15 people hospitalized after double-decker bus crashes outside London's Victoria Station
- 2 Marikina policemen accused of molestation
- Israeli strikes in Yemen's capital kill six, Houthis say
- PH economic losses hit 100B from corruption in flood control projects
