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., This news data comes from:http://erlvyiwan.com
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.
- Workers urge Marcos to stop corruption by banning political dynasties
- 10 DPWH execs in Bulacan relieved over ghost flood control projects
- AFP chief tells troops: Stop Chinese from entering PH ship marooned on WPS territory at all cost
- Fuel prices up next week
- Palace: Govt monitoring Chinese sleeper agents, PLA presence in PH
- DSWD's guarantee letters now accepted in more establishments
- Some areas in Metro Manila, Bulacan, Quezon to have power interruptions due to maintenance work
- Mass housing developers laud Pag-IBIG Fund
- Open mic caught Xi, Putin discussing immortality
- Escudero subpoenaes 10 DPWH contractors for Senate probe next week
