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.
Escudero says new lease law to make PH more appealing to investors
"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 new law amends the Investors' Lease Act by extending the lease period limit of 75 years., This news data comes from:http://ma-cs-gwn-yle.redcanaco.com
Escudero says new lease law to make PH more appealing to investors
- Leviste files charges against DPWH engineer who tried to bribe him
- Malabon averts crisis with garbage deal
- Marcos orders full budget review for DPWH amid ghost projects scandal
- Pagasa sees two to four tropical cyclones hitting Philippines in September
- Alice Guo faces new cases over POGO land
- Nartatez to reassign Torre if he won't retire, says they're 'okay'
- Australia expels Iran ambassador over antisemitic attacks
- House tackles P881B public works budget amid flood control anomalies
- Chinese research vessel spotted near Philippine coast but 'goes dark' after, says maritime expert
- 1.2K pass Electrical Engineers exam
