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.
This new law amends the Investors' Lease Act by extending the lease period limit of 75 years.
Escudero says new lease law to make PH more appealing to investors, This news data comes from:http://xs888999.com
- Budget shortfall narrows in July
- Hopes fading for Putin, Zelenskyy peace summit
- Manila mayor warns against mobs, orders police to maintain peace and order
- South Korea's Lee faces pivotal test at first summit with Trump
- 11 foreigners killed in Portugal funicular crash
- Heavy rain falls in parts of Southeast Asia after tropical storm blows into Vietnam Heavy rain falls in parts of Southeast Asia after tropical storm blows into Vietnam
- Pasig fire kills child, injures mother as she tries to save him
- Sri Lanka's jailed ex-president Wickremesinghe granted bail
- Gasoline, diesel price hikes seen next week
- Earthquake kills 250, injures 500 in Afghanistan
