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, This news data comes from:http://www.yamato-syokunin.com
"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
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.
- Chery Tiggo survives Creamline in cardiac five-setter in PVL Invitationals
- House holds budget review with 21 civil society organizations
- Pagasa: Trough of LPA, 'habagat' will bring rain, thunderstorms across PH
- India to probe giant zoo run by son of Asia's richest person
- Madagascar welcomes home skulls of Indigenous warriors taken by French colonial troops 128 years ago
- No winner in lotto draws for Aug 28
- Napolcom welcomes Nartatez’s move to recall Torre’s reassignments
- Marcos signs mining tax regime law
- Two dead as strong earthquake jolts Afghanistan
- LPA may still develop into short-lived tropical cyclone
