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, This news data comes from:http://www.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.
- 25,000 Filipinos register for Pag-IBIG's Expanded 4PH Housing Program
- 'Lannie' exits PH — Pagasa
- DILG suspends classes, gov’t work in 17 areas
- Israel city honors Quezon’s wartime rescue of Jews
- ‘Lannie’ to bring rain over NLuzon, southwest monsoon to affect Metro Manila, Calabarzon, Mimaropa —Pagasa
- 40% of Filipinos are now obese, says Health expert
- Palace rejects China's 'troublemaker' tag
- 11 foreigners killed in Portugal funicular crash
- SSS hails Marcos, Recto for initiating pension reforms, including one to be rolled out in Sept
- Comelec completes ballot printing for Bangsamoro elections despite redistricting dispute
