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://redcanaco.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
- House bill seeks to regulate AI use
- Gaps in healthcare services remain - study
- President Marcos to attend 80th UN General Assembly in New York
- Surfacing of WPS features ‘likely’ natural occurrence, not due to dumped crushed corals
- 'Strangest' dinosaur covered in spiked armory – scientists
- Marcos opens WorldSkills Asean competition
- Palace slams Discaya couple's denial in Film Heritage Building debacle
- Philippines calls for Gaza ceasefire amid humanitarian crisis
- Kneecap to play Paris concert in defiance of objections
- Indonesian finance minister's home looted as protest anger grows
