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.
He thanked President Ferdinand Marcos Jr. for supporting the measure.
The president on Saturday signed Republic Act 12252., This news data comes from:http://yiq-aqhe-limt-jvme.xs888999.com
Escudero says new lease law to make PH more appealing to investors
This new law amends the Investors' Lease Act by extending the lease period limit of 75 years.
- What to know about Indonesia's nationwide unrest over lawmakers' perks
- Chery Tiggo survives Creamline in cardiac five-setter in PVL Invitationals
- NKorea's Kim tells Xi hopes to 'steadily develop' ties – KCNA
- Modi and Putin affirm special relationship as India faces steep US tariffs over Russian oil imports
- Trump withdraws Kamala Harris's Secret Service protection
- Group: Register for free PhilHealth medicines
- House committee subpoenas Sarah Discaya, 4 other contractors over flood control project anomalies
- PH doesn't recognize Taiwan as sovereign state, stands by 'One China Policy' -- Foreign Affairs chief
- Israeli army: Gaza City now 'a dangerous combat zone'
- Macron says 26 countries pledge troops as a reassurance force for Ukraine after war ends
