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
He thanked President Ferdinand Marcos Jr. for supporting the measure.
The president on Saturday signed Republic Act 12252., This news data comes from:http://ggwxunqb.erlvyiwan.com
This new law amends the Investors' Lease Act by extending the lease period limit of 75 years.
- Thailand set for vote on new PM after dissolution bid rejected
- Villanueva: Regularize contractual govt workers
- International media protest over journalist deaths in Gaza
- No winner in Ultra, Megalotto draws for Sept 5
- Thai opposition holds kingmaking summit deciding new PM
- China criticizes Canadian, Australian warships transiting Taiwan Strait
- Philippine forces deliver supplies and personnel to disputed South China Sea shoal despite tensions
- Israel launches new spy satellite in 'message' to enemies
- Actress Angel Aquino victim of 'deepfake,' seeks prosecution of perpetrators of cyber pornography
- South Korea's Lee faces pivotal test at first summit with Trump
