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.
Escudero says new lease law to make PH more appealing to investors
He thanked President Ferdinand Marcos Jr. for supporting the measure., This news data comes from:http://www.yamato-syokunin.com
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.
- Afghan quake death toll surges to over 2,200
- Lookout bulletins out vs Atong Ang, Barretto
- Lacson: House can't return proposed 2026 budget to Palace
- Pagasa: Rainy Monday over Visayas, Luzon areas due to LPA, 'habagat'
- Prince Harry to visit UK on anniversary of queen's death
- EU massive fine against Google draws Trump threat
- Leviste files charges against DPWH engineer who tried to bribe him
- Police general suspended for ‘obstruction’ of evidence in case of missing sabungeros
- SKorea’s Lee in Tokyo to show friendship
- Taiwan: China illegally deploying oil rigs in its waters
