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 news data comes from:http://www.gangzhifhm.com
This new law amends the Investors' Lease Act by extending the lease period limit of 75 years.
- Taiwan, China locked in historical word war
- Cusi charged over Malampaya deal
- Thai Court: PM Shinawatra violated ethics rules
- Four children killed by parents in Dominican Republic — police
- Trump stamps 'dictator chic' on Washington
- Wife and ally of ousted SKorean president indicted by special prosecutors
- Pangilinan pushes coordinated water management
- Putin tells Xi China-Russia ties are at 'unprecedented level'
- Customs recovers 10 more Discaya luxury cars
- Alex Eala makes history With comeback victory at US Open
