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., This news data comes from:http://nqublkh.gyglfs.com
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.
- Hopes fading for Putin, Zelenskyy peace summit
- Indonesia, US and allies launch joint military drills
- 'New' position being offered to Torre — Palace
- Marcos says commission on DPWH anomalies to be finalized 'very soon,' mum on Magalong participation
- In Taiwan, competing narratives over the meaning of China's massive military show
- Pope meets with Chagos refugees and delivers message about rights of the weak against the powerful
- Seoul says over 300 South Koreans held in US battery plant site raid
- FBI raids home of Trump critic, former adviser
- UN food agency chief says women and children are starving in Gaza and pressed Netanyahu on aid
- Nartatez relieves Fajardo as PNP spokesman
