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://erlvyiwan.com
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 new law amends the Investors' Lease Act by extending the lease period limit of 75 years.
- In Taiwan, competing narratives over the meaning of China's massive military show
- Sen. Go files bills to push health, social, and labor reforms
- Head of main US health agency abruptly dismissed
- Thailand acting PM moves to dissolve parliament — party
- Japan accelerates missile deployment amid rising regional tensions
- No winner in Grand, Megalotto draws for Aug 27
- Nartatez to reassign Torre if he won't retire, says they're 'okay'
- Australia government condemns anti-immigration rally in Sydney
- Isko files raps over demolition of sports complex
- Lacson to give Dizon 'damning' proof vs DPWH 'rotten fruits'
