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.
Escudero says new lease law to make PH more appealing to investors, This news data comes from:http://qu-ah-mln-kno.ycyzqzxyh.com
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.
- Chinese bridge collapse kills at least 12 construction workers
- Iran-backed Houthis raid UN offices in Yemen and detain at least 11 employees
- Sara favors punishing officials, lifestyle checks
- PNP enlists Interpol help in hunt for Japanese mastermind behind Manila double murder
- Sara’s claims that corruption probe could be done in one day 'absolutely preposterous' – Palace
- Malabon shifts garbage disposal to Rizal landfill after Navotas closure
- Fuel prices up next week
- DMW: 19 distressed OFWs return home from Jeddah
- LPA affects Metro Manila, Mindanao, Visayas
- LPA east of Surigao del Sur may intensify into tropical depression
