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., This news data comes from:http://tt-ka-kvf-yumf.gyglfs.com
Escudero says new lease law to make PH more appealing to investors
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.
- One in four people lack access to safe drinking water – UN
- UN watchdog finds uranium traces at suspected Syrian former nuclear site
- Sri Lanka's jailed ex-president Wickremesinghe granted bail
- National Guard troops begin carrying weapons in US capital
- Xi slams 'bullying' in speech to regional leaders at summit
- Sarah Discaya grilled by Senate over alleged DPWH links
- 'Isang' leaves PAR, storm signals lifted - Pagasa
- Rains over Metro Manila, parts of PH as LPA may develop into 'short-lived' tropical depression
- MMDA asks LTO to sanction motorist in altercation with traffic enforcer in San Juan
- Putin tells Xi China-Russia ties are at 'unprecedented level'
