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://djik.aichuwei.com
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 new law amends the Investors' Lease Act by extending the lease period limit of 75 years.
- Indonesia protests put spotlight on paramilitary police force
- Chery Tiggo survives Creamline in cardiac five-setter in PVL Invitationals
- SSS pension reform program starts in September
- India walks back order to clear Delhi of stray dogs
- DPWH fires Bulacan engineers, blacklists contractors over anomalous projects
- Ukraine drone attacks spark fires at Russia's Kursk nuclear plant, Novatek's Ust-Luga terminal.
- Summer brings overtourism fears for 'Bavarian Caribbean'
- Cyclone's trough, habagat will bring cloudy skies, rain showers over PH
- IBP to form good governance panel
- Supreme Court censures Marikina judge over parking dispute with PAO lawyer
