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, This news data comes from:http://dktrcw.gangzhifhm.com
The president on Saturday signed Republic Act 12252.
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.
- Discaya’s construction companies competed against each other during biddings
- Senate subpoenas 8 DPWH officials, contractors in flood control probe
- Five journalists among 20 killed in Israeli strikes on Gaza hospital
- SC acquits suspect in 2012 killing of Dutch aid worker over doubtful testimonies
- Local execs defend law on term of office
- New mining law to balance profit, ecology
- NKorea's Kim tells Xi hopes to 'steadily develop' ties – KCNA
- Pangilinan pushes coordinated water management
- 95 IMAGES OF MARY
- Five killed in New York state tourist bus crash
