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.
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.
Escudero says new lease law to make PH more appealing to investors, This news data comes from:http://arr-traf-oscg-pr.771bg.com
- National Guard troops begin carrying weapons in US capital
- DPWH Secretary Dizon orders perpetual ban of Wawao Builders, Syms Construction for ghost projects
- Isko files raps over demolition of sports complex
- Thailand's suspended prime minister testifies over phone call that could get her booted from job
- Ever dream of having an entry in the Guinness World Records? Here's how to do it
- Discaya companies' licenses revoked for bid-rigging
- Manila marks National Heroes Day with job fair
- Bonoan resigns, Dizon named DPWH chief
- Hontiveros urges probe on Chinese faking Filipino identity
- Sara favors punishing officials, lifestyle checks
