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://vw.gangzhifhm.com
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
- India's Modi seeks closer ties on Asia tour to offset US tariff fallout
- UN watchdog finds uranium traces at suspected Syrian former nuclear site
- Putin facing mounting pressure from the West
- Japan PM decides to quit as opponents seek leadership election
- Cambodia MPs pass law allowing stripping of citizenship
- AFP: It would take more than a tugboat to tow BRP Sierra Madre from Ayungin Shoal
- Giovanni Lopez pledges to continue and expand DOTr reforms
- 100K Pakistanis flee amid flood threat
- Trump moves to limit US stays of students, journalists
- Hawaii's Kilauea volcano erupts with lava pouring out from multiple vents
