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
He thanked President Ferdinand Marcos Jr. for supporting the measure.
The president on Saturday signed Republic Act 12252.
Escudero says new lease law to make PH more appealing to investors
This new law amends the Investors' Lease Act by extending the lease period limit of 75 years., This news data comes from:http://yamato-syokunin.com
- Vico encourages citizens on Heroes’ Day to be brave
- SSS rolls out historic pension reform program
- Marcos to create independent commission to investigate flood control anomalies
- Indonesia, US and allies launch joint military drills
- Comelec probes 15 contractors for illegal campaign donations
- 2 Marikina policemen accused of molestation
- Metro Manila, rest of Luzon would be rainy due to ‘habagat’ —Pagasa
- Putin meets Kim, praises North Korean troops in Russia
- Marcos orders full budget review for DPWH amid ghost projects scandal
- Pagasa sees two to four tropical cyclones hitting Philippines in September
