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://redcanaco.com
He thanked President Ferdinand Marcos Jr. for supporting the measure.
The president on Saturday signed Republic Act 12252.
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
- DPWH Secretary Dizon orders perpetual ban of Wawao Builders, Syms Construction for ghost projects
- Wife of Australian man wanted in police killings urges him to surrender
- Lacson: Torre 'acted beyond his authority'
- Lacson to govt: Protect education budget
- WBO champ looms as Pacquiao’s next opponent
- Hontiveros wants Senate to probe Chinese who pretended to be Filipino
- LGBTQ+ Catholics make Holy Year pilgrimage to Rome and celebrate a new sense of acceptance
- China is showing off its weaponry in a tightly controlled military parade
- Marcos orders full budget review for DPWH amid ghost projects scandal
- Search for survivors after Afghan earthquake kills 800
