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://www.705-888.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.
Escudero says new lease law to make PH more appealing to investors
- Drones take on Everest's garbage
- SEARCH WARRANT
- Cyclone's trough, habagat will bring cloudy skies, rain showers over PH
- Harold Cabreros takes post as new OCD chief
- China races to build world’s largest solar farm
- Wife and ally of ousted SKorean president indicted by special prosecutors
- Ukraine drone attacks spark fires at Russia's Kursk nuclear plant, Novatek's Ust-Luga terminal.
- DILG denies claims ex-PNP chief ousted over firearms purchase
- Rep. Tiangco reveals P17B flood control allocations linked to former appropriations chairman Rep. Zaldy Co
- Xi slams 'bullying' in speech to regional leaders at summit
