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://xs888999.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.
- MMDA asks LTO to sanction motorist in altercation with traffic enforcer in San Juan
- 2 policemen placed under preventive custody for allegedly molesting a female colleague in Marikina
- San Juan commemorates first revolution under Spanish rule in 129th Araw ng Pinaglabanan
- Anutin elected as Thailand's new prime minister
- Alex Eala targets US Open Round of 32 in rematch against Spanish rival
- Floods kill over 30 in Indian-controlled Kashmir, displace 150,000 in east Pakistan
- Over 800 killed as quake rocks Afghanistan
- 1 of 2 suspects in Pasay robbery, rape arrested
- LPA off Leyte has low chance of becoming cyclone within 24 hours —Pagasa
- DPWH fires Bulacan engineers, blacklists contractors over anomalous projects
