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.
Escudero says new lease law to make PH more appealing to investors
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://qi-lp-kme-blpl.yamato-syokunin.com
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.
- Comelec defers BARMM district reconstitution
- 15 drug war victims cleared to join Duterte's ICC case
- US approves .5M in assistance to Nigeria to help address hunger
- Pagasa monitors 2 LPAs inside PAR; prevailing 'habagat' brings rain across PH
- PH, Japan conduct search and rescue exercises
- Trump moves to end US tariff exemption for small packages
- Pope meets with Chagos refugees and delivers message about rights of the weak against the powerful
- Marcos willing to submit to a lifestyle check
- Marcos names Dizon as DPWH secretary
- Inflation up 1.5% in August
