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, This news data comes from:http://jyxingfa.com
"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.
This new law amends the Investors' Lease Act by extending the lease period limit of 75 years.
- Navotas holds anti-plastic drive
- Cusi charged over Malampaya deal
- LPA may still develop into short-lived tropical cyclone
- Japan pledges continued support for Philippine development projects
- Pangilinan urges Marcos Jr. to prioritize bill aiding farmers, fishermen
- Nepal to block unregistered social media platforms – govt
- Alex Eala targets US Open Round of 32 in rematch against Spanish rival
- No winner in Ultra, Megalotto draws for Sept 5
- Nartatez rules out 'quota' arrests
- House tackles P881B public works budget amid flood control anomalies
