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.
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., This news data comes from:http://www.erlvyiwan.com
- Bonoan resigns, Dizon named DPWH chief
- LPA affects Metro Manila, Mindanao, Visayas
- Red Cross head says mass evacuation of Gaza City 'impossible'
- PNP disputes China's crime advisory, says Philippines crime rate dropped
- Trump withdraws Kamala Harris's Secret Service protection
- Escudero says new lease law to make PH more appealing to investors
- Oil firms to raise fuel prices this week
- No winner in lotto draws for Aug 30
- Recto: No exemption for US tech firms from digital tax
- Indonesia hosts annual US-led combat drills with Indo-Pacific allies
