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://se.771bg.com
This new law amends the Investors' Lease Act by extending the lease period limit of 75 years.
- PH economic losses hit 100B from corruption in flood control projects
- South Africa's most vulnerable struggle to find HIV medication after US aid cuts
- NKorea's Kim tells Xi hopes to 'steadily develop' ties – KCNA
- 2028 polls overseas voter registration opens in Dec
- Escudero says new lease law to make PH more appealing to investors
- Recto: No exemption for US tech firms from digital tax
- Prince Harry to visit UK on anniversary of queen's death
- Lawmaker linked to anomalous flood control projects in US for medical reasons, says House spokesman
- Tokyo protests to Beijing over gas field in East China Sea
- Hope dwindles for survivors days after deadly Afghan quake
