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://ycyzqzxyh.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.
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.
Escudero says new lease law to make PH more appealing to investors
- Lacson: Senators not exempt from scrutiny in ghost flood control project scandal
- Unnamed skeletons? US museum at center of ethical debate
- Malabon averts crisis with garbage deal
- Floods kill over 30 in Indian-controlled Kashmir, displace 150,000 in east Pakistan
- Pope Leo: We must listen first before speaking
- Israel expects 1 million Gazans to flee new offensive
- Hontiveros pushes P15,000 salary hike for teachers
- 'Ondoy'-level rains swamp Quezon City
- PH, Japan conduct search and rescue exercises
- China's Communist rulers push party role before World War II anniversary
