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.
Escudero says new lease law to make PH more appealing to investors
He thanked President Ferdinand Marcos Jr. for supporting the measure., This news data comes from:http://pbet.052298.com
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.
- Peace efforts in limbo as Kyiv mourns 23 dead
- Trump: Many Americans ‘like a dictator’
- New Zealand to allow some wealthy foreign investors onto property market
- Red Cross head says mass evacuation of Gaza City 'impossible'
- Eala kicks off US Open campaign, aims for breakthrough win in New York
- Go seeks more support for Filipino athletes
- P1.7-M shabu seized in Taguig buy-bust
- Trump frustrated after thinking he made headway on Russia-Ukraine talks only to see Putin balk
- Students, faculty file complaint against Universidad de Manila president
- No winner in Ultra, Megalotto draws for Sept 5
