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://www.gangzhifhm.com
This new law amends the Investors' Lease Act by extending the lease period limit of 75 years.
- LTO summons driver who berated MMDA enforcer
- Marcos to mark ‘Thrilla In Manila’ 50th anniversary
- DoJ to begin preliminary investigation into missing cockfighting enthusiasts
- Classes suspended in 10 Metro Manila cities due to rains
- Thailand's former Prime Minister Thaksin makes surprise departure ahead of a risky court ruling
- Konektadong Pinoy bill lapses into law
- Marcos sacks PNP Chief Torre, saying it was 'difficult but necessary'
- US halts 80% complete, huge offshore wind farm
- Palace suspends govt work, classes in several areas due to bad weather
- China 'unstoppable', says Xi with Kim, Putin at his side
