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.
The president on Saturday signed Republic Act 12252., This news data comes from:http://jedrgt.gyglfs.com
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.
- Indonesian police officer fired over killing that sparked protests
- Police brutality fuels soaring tensions in Indonesia
- Thousands protest in Indonesia as military deployed in capital
- May 12 poll results accurate, credible - OCTA Research
- DSWD allocates P6.2B for livelihood program
- House holds budget review with 21 civil society organizations
- ‘Lannie’ to bring rain over NLuzon, southwest monsoon to affect Metro Manila, Calabarzon, Mimaropa —Pagasa
- Passenger with fake Overseas Employment Certificate barred from leaving
- 'Blood Moon' to rise during total lunar eclipse Sunday night
- SSS hails Marcos, Recto for initiating pension reforms, including one to be rolled out in Sept
