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.
Escudero says new lease law to make PH more appealing to investors
The president on Saturday signed Republic Act 12252., This news data comes from:http://gangzhifhm.com
This new law amends the Investors' Lease Act by extending the lease period limit of 75 years.
- Prime minister of Yemen's Houthi-run government killed in Israeli strike
- Artikulo Onse' group calls for independent panel to probe flood control corruption
- Marcos, first lady visit Cambodia to boost ties
- Discaya’s construction companies competed against each other during biddings
- Aftershocks rumble quake-hit Afghanistan as death toll tops 1,400
- Some National Guard units in Washington are now carrying firearms in escalation of Trump deployment
- Fears of new political crisis grip France
- Israeli strikes in Yemen's capital kill six, Houthis say
- Metro Manila disaster agencies expand response areas in preparation for 'Big One'
- Diokno urges Philippines to rejoin ICC to counter China's aggression
