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.
Escudero says new lease law to make PH more appealing to investors
The president on Saturday signed Republic Act 12252.
Escudero says new lease law to make PH more appealing to investors, This news data comes from:http://www.771bg.com
This new law amends the Investors' Lease Act by extending the lease period limit of 75 years.
- WBO champ looms as Pacquiao’s next opponent
- More funding sought for sports commission
- Floods kill over 30 in Indian-controlled Kashmir, displace 150,000 in east Pakistan
- Court orders Immigration to release of Global Ferronickel Chairman Joseph Sy
- The rot goes deep: Marcos decries decades-old corruption
- DPWH engineer denies role in Bulacan flood control ‘ghost projects’
- NATIONAL ARTIST'S HOMETOWN
- New law lets foreigner investors lease land for 99 years
- Marcos approves EO for commission to probe flood project anomalies
- PH Army showcases disaster response capabilities before Thai defense officials
