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., This news data comes from:http://jyxingfa.com
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.
- Heavy rain falls in parts of Southeast Asia after tropical storm blows into Vietnam Heavy rain falls in parts of Southeast Asia after tropical storm blows into Vietnam
- Trump says he wants to meet North Korea's Kim again
- Putin tells Xi China-Russia ties are at 'unprecedented level'
- International media protest over journalist deaths in Gaza
- Corruption crackdown: VP Sara Duterte, lawmakers call for deeper probe into government
- La Niña forecast from Sept-Dec, expect more tropical cyclones, above normal rainfall -- Pagasa
- 'Ondoy'-level rains swamp Quezon City
- Palace rejects China's 'troublemaker' tag
- Prime minister of Yemen's Houthi-run government killed in Israeli strike
- Manila Water announces service disruption for over 12K households in Mandaluyong due to leak repair
