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
"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.
The president on Saturday signed Republic Act 12252., This news data comes from:http://ympuer.erlvyiwan.com
This new law amends the Investors' Lease Act by extending the lease period limit of 75 years.
- SC orders comment on petitions vs polls
- Marcos Jr. seeks 'fair, impartial' Ombudsman - Palace
- Floods kill over 30 in Indian-controlled Kashmir, displace 150,000 in east Pakistan
- Comelec completes ballot printing for Bangsamoro elections despite redistricting dispute
- International media protest over journalist deaths in Gaza
- CFO moves office from QC to Pasay
- Lacson: DPWH exec sought ‘insertions’
- Tensions soar in Indonesia as protests over police brutality and lawmakers' allowances continue
- Govt monitoring Chinese ‘sleeper agents’ in PH
- Petitioners challenge claim NAIA fees lowest in Southeast Asia
