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://gangzhifhm.com
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.
- UK refuses to invite Israeli government officials to London arms fair over the war in Gaza
- Hopes fading for Putin, Zelenskyy peace summit
- Thai court to rule on PM's fate after Hun Sen call leak
- NKorea could produce ten to twenty nukes per year — SKorea leader
- Bolsonaro verdict looms as Brazil coup trial closes
- 17 House lawmakers press Marcos administration to raise WPS issue to UN
- PH Navy spots 20 Chinese ships near BRP Sierra Madre
- LPA may still develop into short-lived tropical cyclone
- Israeli defense minister warns of Gaza City's destruction unless Hamas yields to his country's terms
- 15 companies vie for 'Sustainability Champions' award
