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.
The president on Saturday signed Republic Act 12252., This news data comes from:http://redcanaco.com
This new law amends the Investors' Lease Act by extending the lease period limit of 75 years.
- DILG to roll out nationwide unified 911 hotline on Sept. 11
- Wife of Australian man wanted in police killings urges him to surrender
- PH doesn't recognize Taiwan as sovereign state, stands by 'One China Policy' -- Foreign Affairs chief
- Some areas in Metro Manila, Bulacan to have brownouts due to maintenance work
- DPWH fires Bulacan engineers, blacklists contractors over anomalous projects
- One in four people lack access to safe drinking water – UN
- Lacson to Marcoleta: I don’t want a fight but I won’t back down from one
- PH to host seafarers’ welfare forum
- Surfacing of WPS features ‘likely’ natural occurrence, not due to dumped crushed corals
- Social media erupts: Politicians' children face backlash for flaunting wealth
