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.
He thanked President Ferdinand Marcos Jr. for supporting the measure.
The president on Saturday signed Republic Act 12252., This news data comes from:http://dord-myb-lrpw-xvng.redcanaco.com
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.
- Putin lands in Tianjin for summit hosted by China
- Indonesia protests put spotlight on paramilitary police force
- Preliminary report on Lisbon funicular accident expected
- Marikina City chief of police relieved
- Epstein victims compiling list of sexual abusers
- Legarda pushes Magna Carta of Waste Workers
- Comelec defers reconstitution of BARMM parliamentary districts
- Afghanistan earthquake kills more than 800
- Labubu fans flock to stores after launch of mini dolls
- Metro Manila floods strand commuters, disrupt classes
