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.
Escudero says new lease law to make PH more appealing to investors, This news data comes from:http://hujlyj.ycyzqzxyh.com
"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.
- Sara slams govt corruption probe as a 'political zarzuela,' to meet with Robredo at Bicol festival
- Appointments panel holds first session
- Judge reverses Trump administration's cuts of billions of dollars to Harvard University
- Protesters storm Discaya compound for second straight day
- Labubu fans flock to stores after launch of mini dolls
- Malacañang hits back at VP Duterte's criticism on flood scam probe
- Govt eyes charges vs Discayas over 'unfinished' PH Film Heritage Building
- Modi and Putin affirm special relationship as India faces steep US tariffs over Russian oil imports
- Cebu Pacific to launch direct flights between Cebu and Palawan
- Marcos orders lifestyle checks on all government officials amid flood control probe
