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.gyglfs.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.
- Shooting of Indonesian diplomat in Peru investigated as a contract killing
- Venezuela deploys warships, drones as US destroyers draw near
- Discaya companies' licenses revoked for bid-rigging
- Nepali court: Hindu holy men's nudity not obscene
- Duterte Youth brings Comelec cancelation battle to Supreme Court
- Tourists dice with danger on Hanoi's train street
- Scramble for survivors as Afghan earthquake death toll passes 1,400
- ₱1.7M shabu seized in Taguig buy-bust
- Washington makes military aid overtures to Sahel juntas
- Iran confers with European nations on its nuclear program as sanctions deadline nears
