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.
Escudero says new lease law to make PH more appealing to investors, This news data comes from:http://cddu-ye-mqg-ggcu.771bg.com
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.
- Tariffs, migration and cartels will top Rubio's talks in Mexico and Ecuador this week
- Van Gogh Museum 'could close' without more help from Dutch govt
- Makati distributes Blu Card cash aid
- Inflation up 1.5% in August
- PH Construction Board asked to address 'accreditation for sale' scandal
- Philippine forces deliver supplies and personnel to disputed South China Sea shoal despite tensions
- MMDA prepares for PH hosting of FIVB
- Private groups back DHSUD chief's anti-corruption policy
- Filipino weightlifter Vanessa Sarno banned for 2 years for anti-doping violation
- US appeals court blocks Trump's use of wartime law for deportations
