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, This news data comes from:http://ckistni.gangzhifhm.com
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.
- 20 people missing after deadly Indonesia protests
- 2 policemen placed under preventive custody for allegedly molesting a female colleague in Marikina
- Trump says he'll keep extending TikTok shutdown deadline
- WorldSkills Asean Manila begins
- DFA: No US extradition request for Quiboloy
- Vatican puts Pope Francis' ecological preaching into practice with vocational farm center
- SSS rolls out historic pension reform program
- Thousands protest in Indonesia as military deployed in capital
- Mandela grandson says he will join Gaza aid boat
- PTFOMS and CHR sign agreement to improve Filipino media workers' safety
