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
"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.
The president on Saturday signed Republic Act 12252., This news data comes from:http://fi-xos-kkv-xyfu.052298.com
This new law amends the Investors' Lease Act by extending the lease period limit of 75 years.
- Marcos willing to submit to a lifestyle check
- Summer brings overtourism fears for 'Bavarian Caribbean'
- NHA gives cash aid to families affected by calamity in Manila
- Anutin elected as Thailand's new prime minister
- Philippines calls for Gaza ceasefire amid humanitarian crisis
- Comelec delays implementation of decision disqualifying Duterte Youth Party-List
- US appeals court blocks Trump's use of wartime law for deportations
- India to develop fighter jet engines with French company
- Putin facing mounting pressure from the West
- La Niña forecast from Sept-Dec, expect more tropical cyclones, above normal rainfall -- Pagasa
