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.
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 news data comes from:http://lxi-qcn-gn-dxu.771bg.com
This new law amends the Investors' Lease Act by extending the lease period limit of 75 years.
- Mexican drug lord faces life in prison after pleading guilty in US court
- 2,000 North Korean troops killed in Russia deployment: Seoul spy agency
- 4 policemen linked to sabungero case slapped with more administrative cases
- Marcos, first lady visit Cambodia to boost ties
- Malabon shifts garbage disposal to Rizal landfill after Navotas closure
- Cambodia MPs pass law allowing stripping of citizenship
- Fuel prices up next week
- Philippines calls for Gaza ceasefire amid humanitarian crisis
- VP Sara lauds Filipino heroes
- 'Strangest' dinosaur covered in spiked armory — Scientists
