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.
The president on Saturday signed Republic Act 12252., This news data comes from:http://cbpe.xs888999.com
Escudero says new lease law to make PH more appealing to investors
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
- Searchers retrieve bodies as Afghan quake toll seen to rise
- Former Bulacan district engineer admits going to casinos
- Philippines to work more closely with US amid regional challenges
- Tax bureau hunts down contractors over questionable flood control deals
- Lacson clears air over conflict with Marcoleta on flood control probe
- Five killed in New York state tourist bus crash
- National Guard troops begin carrying weapons in US capital
- UK's mass facial-recognition roll-out alarms rights groups
- OVP ready to submit to lifestyle check if ordered, no word from Sara
- UN watchdog finds uranium traces at suspected Syrian former nuclear site
