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., This news data comes from:http://jb-yg-sxy-jbg.erlvyiwan.com
- India to develop fighter jet engines with French company
- ‘Gomez ignorant of how media works’
- Ukraine's children start new school year in underground classrooms to avoid Russian bombs
- Filipino fulfills dream of performing with K-pop group before home fans
- Marcos 'ready' to undergo lifestyle check- Palace
- In Taiwan, competing narratives over the meaning of China's massive military show
- Ukraine offers to co-produce drones with Philippines for maritime patrols
- Comelec completes ballot printing for Bangsamoro elections despite redistricting dispute
- Tokyo protests to Beijing over gas field in East China Sea
- 1 in 4 people lack access to safe drinking water — UN
