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 new law amends the Investors' Lease Act by extending the lease period limit of 75 years., This news data comes from:http://rvhjxuv.redcanaco.com
- 'Lannie' exits PH — Pagasa
- Trump moves to end US tariff exemption for small packages
- Alex Eala targets US Open Round of 32 in rematch against Spanish rival
- UK, Japan, South Korea endure hottest summer on record
- DPWH exec fired, 2 others face dismissal over flood control mess
- Jollibee, DepEd partner to develop quick service restaurant curriculum for senior high
- Chinese bridge collapse kills at least 12 construction workers
- COA launches sweeping audit of flood control projects
- Ballots for oct 13 BARMM polls completed – Comelec
- Marcos suspends importation of regular, well-milled rice for 60 days
