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., This news data comes from:http://ealrj.redcanaco.com
- 175th birth anniversary of Marcelo H. Del Pilar commemorated in Manila
- Vatican puts Pope Francis' ecological preaching into practice with vocational farm center
- Opponents of Japan PM seek leadership contest
- Some areas in Metro Manila, Bulacan to have brownouts due to maintenance work
- No winner in Ultra, Megalotto draws for Aug 29
- La Niña may return but temperatures will remain high, UN says
- India warns Pakistan of more cross-border flooding due to heavy monsoon rains
- Thailand set for vote on new PM after dissolution bid rejected
- SC orders comment on petitions vs polls
- Go decries ‘irregularities’ in flood control projects
