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., This news data comes from:http://erlvyiwan.com
Escudero says new lease law to make PH more appealing to investors
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
- DILG denies allegations that PNP chief fired over firearms deal
- Malacañang hits back at VP Duterte's criticism on flood scam probe
- LPA has big chance of intensifying into tropical cyclone to be named ‘Kiko’
- 9 dead in Ecuador after bus plunges into ravine
- Duterte party's acting chairman charged at Sandiganbayan over Malampaya project
- PH economic losses hit 100B from corruption in flood control projects
- Former DPWH chief denies links to corruption
- Malabon averts crisis with garbage deal
- Pangilinan pushes coordinated water management
- Nartatez vows to be fair in making reassignments
