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.
He thanked President Ferdinand Marcos Jr. for supporting the measure.
The president on Saturday signed Republic Act 12252.
Escudero says new lease law to make PH more appealing to investors, This news data comes from:http://yamato-syokunin.com
This new law amends the Investors' Lease Act by extending the lease period limit of 75 years.
- Veteran Thai politician Anutin Charnvirakul wins vote in Parliament to become next prime minister
- Sen. Hontiveros pushes for Philippine Geriatric Center to aid seniors
- Roxas matriarch Judy Araneta-Roxas, 91
- Putin facing mounting pressure from the West
- Heavy rain causes flooding, landslides and 8 deaths in Vietnam and Thailand
- Trump stamps 'dictator chic' on Washington
- Pagasa: Trough of LPA, 'habagat' will bring rain, thunderstorms across PH
- PTFOMS and CHR sign agreement to improve Filipino media workers' safety
- China displays its weaponry in a tightly controlled military parade
- A summit and parade in China may signal a geopolitical shift
