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.
Escudero says new lease law to make PH more appealing to investors, This news data comes from:http://mvo.jyxingfa.com
"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.
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.
- Angkas supports DICT's amnesty program for unregistered delivery services
- House resolution filed to investigate 'funders' of anomalous projects
- 15 drug war victims cleared to join Duterte's ICC case
- Escudero says new lease law to make PH more appealing to investors
- Thai court to rule on PM's fate after Hun Sen call leak
- Thai woman jailed for 43 years for lese majeste freed
- PH has chance of getting UNSC seat - Manalo
- 1 of 2 suspects in Pasay robbery, rape arrested
- DoJ to begin preliminary investigation into missing cockfighting enthusiasts
- Vietnam evacuates thousands ahead of Typhoon Kajiki
