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://www.705-888.com
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.
- Dizon to abolish DPWH internal special investigation team created to look into the flood control anomalies
- Xi and Putin round on West at regional summit in China
- Mayor Sotto slams Discayas, cites lies, ghost firms, and kickback allegations
- Surfacing of WPS features ‘likely’ natural occurrence, not due to dumped crushed corals
- Israel flattens high-rise as it tells Gaza City residents to flee
- Pangilinan urges Marcos Jr. to prioritize bill aiding farmers, fishermen
- Searchers retrieve bodies as Afghan quake toll seen to rise
- Portugal mourns after Lisbon streetcar accident kills 15
- Jollibee, DepEd partner to develop quick service restaurant curriculum for senior high
- DPWH to revisit budget, to complete revisions within 2 weeks
