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.
The president on Saturday signed Republic Act 12252.
Escudero says new lease law to make PH more appealing to investors, This news data comes from:http://redcanaco.com
This new law amends the Investors' Lease Act by extending the lease period limit of 75 years.
Escudero says new lease law to make PH more appealing to investors
- LGBTQ+ Catholics make Holy Year pilgrimage to Rome and celebrate a new sense of acceptance
- Mexican senators come to blows after heated debate
- Police general suspended for ‘obstruction’ of evidence in case of missing sabungeros
- Sri Lanka's jailed ex-president Wickremesinghe granted bail
- Putin threatens to target Western troops in Ukraine
- Indonesia, US and allies launch joint military drills
- Thousands protest in Indonesia as military deployed in capital
- CFO office moves from Quezon City to Pasay
- Israel ups pressure on Gaza City
- Cusi charged over Malampaya deal
