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://erlvyiwan.com
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.
- Manila Water announces service disruption for over 12K households in Mandaluyong due to leak repair
- Dial 911: New nationwide emergency hotline to go live on Sept. 11
- Tax bureau hunts down contractors over questionable flood control deals
- Palace: Govt monitoring Chinese sleeper agents, PLA presence in PH
- Philippine forces deliver supplies and personnel to disputed South China Sea shoal despite tensions
- Pagasa: Trough of LPA, 'habagat' will bring rain, thunderstorms across PH
- UK refuses to invite Israeli government officials to London arms fair over the war in Gaza
- Marcos orders lifestyle check on all govt officials amid flood projects probe
- Repairs on Chinese ship in Bajo de Masinloc collision may take 2 months - PH Navy
- 25,000 Filipinos register for Pag-IBIG's Expanded 4PH Housing Program
