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.
He thanked President Ferdinand Marcos Jr. for supporting the measure.
Escudero says new lease law to make PH more appealing to investors, This news data comes from:http://mvun-ro-dbw-jm.771bg.com
The president on Saturday signed Republic Act 12252.
Escudero says new lease law to make PH more appealing to investors
This new law amends the Investors' Lease Act by extending the lease period limit of 75 years.
- UK, Japan, South Korea endure hottest summer on record
- Thailand's former Prime Minister Thaksin makes surprise departure ahead of a risky court ruling
- What to know about Indonesia's nationwide unrest over lawmakers' perks
- 11 foreigners killed in Portugal funicular crash
- House resumes budget briefings
- Bureau of Customs seeks missing luxury cars of contractor Sarah Discaya
- China's Communist rulers push party role before World War II anniversary
- House bill seeks to regulate AI use
- Cyclone's trough, habagat will bring cloudy skies, rain showers over PH
- Afghan quake death toll surges to over 2,200
