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., This news data comes from:http://ha-bo-ou-ynax.jyxingfa.com
He thanked President Ferdinand Marcos Jr. for supporting the measure.
Escudero says new lease law to make PH more appealing to investors
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.
- Fire breaks out in Manila residential area
- Searchers retrieve bodies as Afghan quake toll seen to rise
- Ukraine offers to co-produce drones with Philippines for maritime patrols
- Transport chief pushes shame campaign vs errant motorists
- PH, Japan conduct search and rescue exercises
- Malabon City honors partners
- May 12 poll results accurate, credible - OCTA Research
- Giovanni Lopez pledges to continue and expand DOTr reforms
- Some areas in Metro Manila, Bulacan, Quezon to have power interruptions due to maintenance work
- Australia to tackle deepfake nudes, online stalking
