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.
The president on Saturday signed Republic Act 12252., This news data comes from:http://erlvyiwan.com
This new law amends the Investors' Lease Act by extending the lease period limit of 75 years.
- Iran-backed Houthis raid UN offices in Yemen and detain at least 11 employees
- Indonesia, US and allies launch joint military drills
- Cebu Pacific to launch direct flights between Cebu and Palawan
- Maryland resident is diagnosed with New World screwworm. What to know about the parasite
- Petitioners challenge claim NAIA fees lowest in Southeast Asia
- ICC wants Garma to testify in Duterte case
- Chinese sleeper agents' and PLA operatives a threat, Lacson warns
- Mexican senators come to blows after heated debate
- DPWH fires Bulacan engineers, blacklists contractors over anomalous projects
- Putin and Modi in China for summit hosted by Xi
