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, This news data comes from:http://www.yamato-syokunin.com
"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 new law amends the Investors' Lease Act by extending the lease period limit of 75 years.
- Thailand's suspended prime minister testifies over phone call that could get her booted from job
- Comelec to resume BARMM polls ballot printing Thursday
- Five killed in New York state tourist bus crash
- MMDA inks deal with DBM for G-3 program
- NBI slaps Alice Guo, 35 Others with new graft, misconduct cases
- A suicide bombing near a political rally in southwestern Pakistan kills 13 and wounds 30
- Cambodia MPs pass law allowing stripping of citizenship
- Trump plans a hefty tax on imported drugs, risking higher prices and shortages
- French couple kept panther that roamed nearby rooftops
- DFA: No US extradition request for Quiboloy
