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://xax.xs888999.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.
- Tokyo logs record 10 days of 35 C or higher
- Heavy rains flood parts of Metro Manila anew
- Israeli protesters demand hostage deal as cabinet meets
- Motive probed for US shooting that killed two children, injured 17
- DPWH exec fired, 2 others face dismissal over flood control mess
- Housing secretary declares 'zero-tolerance' policy on corruption
- China races to build world’s largest solar farm
- Lacson warns lawmakers may be complicit in ghost flood control projects
- Marcos willing to submit to a lifestyle check
- Social pension eyed for indigent seniors
