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., This news data comes from:http://hkh-fm-eao-gdt.052298.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.
- AFP: It would take more than a tugboat to tow BRP Sierra Madre from Ayungin Shoal
- Signal No. 1 up in 13 areas; Isang to leave PAR as tropical storm
- MMDA proposes rainwater facilities in Camp Aguinaldo to mitigate EDSA flooding
- MMDA unveils plan to build rainwater impounding facilities in Camp Aguinaldo
- South Korea to ban mobile phones in school classrooms
- Vico Sotto could challenge VP Sara in 2028 race – survey
- DoJ to begin preliminary investigation into missing cockfighting enthusiasts
- Public Works Chief Vince Dizon demands courtesy resignations to 'clean house'
- India will not 'bow down,' trade minister says after US tariffs
- Discayas to file raps vs protesters, will attend Senate hearing — lawyer
