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.
He thanked President Ferdinand Marcos Jr. for supporting the measure.
Escudero says new lease law to make PH more appealing to investors
The president on Saturday signed Republic Act 12252., This news data comes from:http://aichuwei.com
This new law amends the Investors' Lease Act by extending the lease period limit of 75 years.
- Wildfires producing 'witches' brew' of air pollution – UN
- Japan pledges continued support for Philippine development projects
- May 12 poll results accurate, credible - OCTA Research
- Maduro hits ‘illegal’ US troops deployment
- Discaya says her family owns nine companies
- Israel ups pressure on Gaza City
- Drones take on Everest's garbage
- Surfacing of WPS features ‘likely’ natural occurrence, not due to dumped crushed corals
- Tokyo protests to Beijing over gas field in East China Sea
- Heavy rains flood parts of Metro Manila anew
