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 news data comes from:http://pnoqrm.gangzhifhm.com
This new law amends the Investors' Lease Act by extending the lease period limit of 75 years.
- DPWH chief rejects calls to resign as he vows to probe corruption in flood control projects
- India to develop fighter jet engines with French company
- Discaya companies' licenses revoked for bid-rigging
- CBCP president urges Israel to stop military operations in Gaza
- 2 LPAs monitored inside PAR, bringing rain to Luzon
- Labubu fans flock to stores after launch of mini dolls
- SpaceX cancels Starship megarocket launch
- Marcos signs laws declaring holidays across PH
- IBP to form good governance panel
- Pope meets with Chagos refugees and delivers message about rights of the weak against the powerful
