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.
Escudero says new lease law to make PH more appealing to investors, This news data comes from:http://ik-uwdc-cffi-mapl.052298.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.
- LPA may still develop into short-lived tropical cyclone
- Support grows for independent probe into flood control projects
- 1.2K pass Electrical Engineers exam
- HFMD cases on the rise
- Lacson: Senators not exempt from scrutiny in ghost flood control project scandal
- EU massive fine against Google draws Trump’s ire
- Malacañang hits back at VP Duterte's criticism on flood scam probe
- Motorist in San Juan traffic spat faces sanction
- Nartatez rules out 'quota' arrests
- Chinese tourist city Sanya shuts down as typhoon intensifies
