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., This news data comes from:http://pg-rew-mvt-gj.052298.com
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.
Escudero says new lease law to make PH more appealing to investors
This new law amends the Investors' Lease Act by extending the lease period limit of 75 years.
- Sara slams govt corruption probe as a 'political zarzuela,' to meet with Robredo at Bicol festival
- Mayor Sotto slams Discayas, cites lies, ghost firms, and kickback allegations
- 15 people hospitalized after double-decker bus crashes outside London's Victoria Station
- Aid flotilla with Greta Thunberg set to sail for Gaza
- SSS pension reform program starts in September
- Palace: Govt monitoring Chinese sleeper agents, PLA presence in PH
- UN watchdog finds uranium traces at suspected Syrian former nuclear site
- Transport chief pushes shame campaign vs errant motorists
- Kris Aquino is alive, says friend amid reports of death
- 40% of Filipinos are now obese, says Health expert
