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.
He thanked President Ferdinand Marcos Jr. for supporting the measure., This news data comes from:http://xs888999.com
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
- Unnamed skeletons? US museum at center of ethical debate
- CBCP president urges Israel to stop military operations in Gaza
- Court rules on subdivision open spaces, road lots
- Peace efforts in limbo as Kyiv mourns 23 dead
- Thailand acting PM moves to dissolve parliament — party
- Philippine forces deliver supplies and personnel to disputed South China Sea shoal despite tensions
- Mexican drug lord faces life in prison after pleading guilty in US court
- Eight towns in Cotabato cancel classes on Monday
- Marcos suspends importation of regular, well-milled rice for 60 days
- Vietnam marks 80th independence anniversary with huge parade
