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.
Escudero says new lease law to make PH more appealing to investors, This news data comes from:http://771bg.com
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.
- Philippines nears universal healthcare, 80% goal achieved -- Marcos
- Konektadong Pinoy Bill has lapsed into law — Palace
- Widespread flooding in Quezon City due to heavy rains, stranding commuters, rendering most roads impassable to vehicles
- Comelec to open nearly two-year overseas voter registration for 2028 elections
- NATIONAL ARTIST'S HOMETOWN
- Head of main US health agency abruptly dismissed
- 2,000 North Korean troops killed in Russia deployment: Seoul spy agency
- Bolsonaro verdict looms as Brazil coup trial closes
- Philippines presses call for ceasefire in Gaza
- SKorea’s Lee in Tokyo to show friendship
