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., This news data comes from:http://www.redcanaco.com
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.
- Madagascar welcomes home skulls of Indigenous warriors taken by French colonial troops 128 years ago
- Villanueva: Regularize contractual govt workers
- Mass housing developers laud Pag-IBIG Fund
- Japan PM decides to quit as opponents seek leadership election
- NATIONAL ARTIST'S HOMETOWN
- Undersea cables cut in the Red Sea, disrupting internet access in Asia and the Mideast
- Chinese tourist city Sanya shuts down as typhoon intensifies
- Seoul says over 300 South Koreans held in US battery plant site raid
- Public Works Chief Vince Dizon demands courtesy resignations to 'clean house'
- 17 House lawmakers press Marcos administration to raise WPS issue to UN
