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 news data comes from:http://kv-dcn-yw-fgw.jyxingfa.com
This new law amends the Investors' Lease Act by extending the lease period limit of 75 years.
- Surfacing of WPS features ‘likely’ natural occurrence, not due to dumped crushed corals
- Japan prince comes of age as succession crisis looms
- MPD announces road closures for Bar exams
- DMW: 19 distressed OFWs return home from Jeddah
- 15 people hospitalized after double-decker bus crashes outside London's Victoria Station
- Harold Cabreros takes post as new OCD chief
- Indonesian finance minister's home looted as protest anger grows
- Group: Register for free PhilHealth medicines
- An AI simulation of a Mount Fuji eruption is being used to prepare Tokyo for the worst
- Ukraine's children start new school year in underground classrooms to avoid Russian bombs
