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.
Escudero says new lease law to make PH more appealing to investors
The president on Saturday signed Republic Act 12252., This news data comes from:http://isu-cpq-lnkw-jbx.erlvyiwan.com
This new law amends the Investors' Lease Act by extending the lease period limit of 75 years.
- PH, Australia, Canada hold joint sea drills
- PAL plane bound for Osaka returns to Manila due to 'emergency' situation
- Duterte party's acting chairman charged at Sandiganbayan over Malampaya project
- President Marcos to attend 80th UN General Assembly in New York
- 'Strangest' dinosaur covered in spiked armory — Scientists
- No winner in Grand, Megalotto draws for Aug 27
- Iran confers with European nations on its nuclear program as sanctions deadline nears
- Budget shortfall narrows in July
- Comelec delays implementation of decision disqualifying Duterte Youth Party-List
- Lacson clears air over conflict with Marcoleta on flood control probe
