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.
Escudero says new lease law to make PH more appealing to investors, This news data comes from:http://dp-hrjw-ld-fqo.yamato-syokunin.com
- Appointments panel holds first session
- PH has chance of getting UNSC seat - Manalo
- No winner in Ultra, Megalotto draws for Aug 29
- Trump names US ambassador to India
- Israeli strikes in Yemen's capital kill six, Houthis say
- Heavy rain falls in parts of Southeast Asia after tropical storm blows into Vietnam
- Chinese research vessel spotted near Philippine coast but 'goes dark' after, says maritime expert
- Putin vows not to back down in Ukraine
- Social media erupts: Politicians' children face backlash for flaunting wealth
- Trump says he wants to meet North Korea's Kim again
