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
"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://oifcawk.erlvyiwan.com
- Marcos opens Hyundai's shipyard in PH
- Workers urge Marcos to stop corruption by banning political dynasties
- 2 policemen placed under preventive custody for allegedly molesting a female colleague in Marikina
- Palace suspends govt work, classes in several areas due to bad weather
- PH eyes global partners in biggest railway project
- Dizon asks DOJ to issue immigration lookout bulletin to 26 DPWH officials and contractors
- Fire breaks out in Manila residential area
- Read to reduce sentence, Uzbekistan tells prisoners
- No winner in lotto draws for Aug 28
- Nartatez vows to be fair in making reassignments
