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, This news data comes from:http://www.yamato-syokunin.com
"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.
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.
- Comelec defers BARMM district reconstitution
- 'No way' US troops can invade Venezuela, says Maduro
- Lacson clears air over conflict with Marcoleta on flood control probe
- UK refuses to invite Israeli government officials to London arms fair over the war in Gaza
- Argentina hunts Nazi-looted painting revealed in property ad
- Discayas to file raps vs protesters, will attend Senate hearing — lawyer
- Kilauea's eruption is back as the Hawaii volcano shoots lava for the 31st time since December
- Makati distributes Blu Card cash aid
- Marcos mum on Magalong joining independent commission for DPWH probe
- Ukraine says Russia linked to lawmaker's killing
