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://771bg.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.
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.
- La Niña forecast from Sept-Dec, expect more tropical cyclones, above normal rainfall -- Pagasa
- Thailand acting PM moves to dissolve parliament — party
- 9 dead in Ecuador after bus plunges into ravine
- Nepal to block unregistered social media platforms – govt
- Mexican drug lord faces life in prison after pleading guilty in US court
- A tale of two cities: San Mateo rejects Manila's trash; Rizal opens landfill to Malabon
- Puno seeks probe of anomalous projects ‘funders’
- House starts flood control probe
- Manila Water announces service disruption for over 12K households in Mandaluyong due to leak repair
- Zelenskyy meets European leaders on Ukraine security guarantees
