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://igy.jyxingfa.com
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
- Wife of Australian man wanted in police killings urges him to surrender
- Tokyo logs record 10 days of 35 C or higher
- 500 Internal Server Error
- Comelec defers BARMM district reconstitution
- Trump moves to end US tariff exemption for small packages
- Pag-IBIG Fund gives occupants 10% discount to legally buy acquired homes
- IBP forms committee on good governance to probe corruption
- China is showing off its weaponry in a tightly controlled military parade
- Japan prince comes of age as succession crisis looms
- SC acquits suspect in 2012 killing of Dutch aid worker over doubtful testimonies
