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., This news data comes from:http://gyglfs.com
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.
Escudero says new lease law to make PH more appealing to investors
- Lacson warns lawmakers may be complicit in ghost flood control projects
- Duterte defense files more motions challenging ICC prosecutor
- Senate subpoenas 8 DPWH officials, contractors in flood control probe
- Recto: No exemption for US tech firms from digital tax
- Comelec at 85: Garcia vows reforms
- Putin meets Kim, praises North Korean troops in Russia
- SpaceX scrubs latest Starship launch due to bad weather
- New mining law to balance profit, ecology
- Pagasa sees two to four tropical cyclones hitting Philippines in September
- France seized by fears of new political crisis
