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.
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://ydaj-aun-yb-upvc.redcanaco.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.
- Pangilinan urges Marcos Jr. to prioritize bill aiding farmers, fishermen
- Mass housing developers laud Pag-IBIG Fund
- Venezuela builds up border security over US warships
- President Marcos to attend 80th UN General Assembly in New York
- Widespread flooding in Quezon City due to heavy rains, stranding commuters, rendering most roads impassable to vehicles
- Transport chief pushes shame campaign vs errant motorists
- Motive probed for US shooting that killed two children, injured 17
- France seized by fears of new political crisis
- House suspends DPWH budget deliberations pending submission of changes by agency, DBM
- No winner in lotto draws for Aug 28
