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.
The president on Saturday signed Republic Act 12252., This news data comes from:http://www.705-888.com
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.
- Need a pee? Japan has QR code for that
- Searchers retrieve bodies as Afghan quake toll seen to rise
- Prompt release of educational aids sought
- Comelec to open nearly two-year overseas voter registration for 2028 elections
- Israel army urges Gaza City residents to leave
- MMDA inks deal with DBM for G-3 program
- Heavy rains flood parts of Metro Manila anew
- India to develop fighter jet engines with French company
- Xi meets Modi as China and India seek to rebuild ties
- Marcos confers diplomatic merit award on two ambassadors
