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., This news data comes from:http://www.jyxingfa.com
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.
Escudero says new lease law to make PH more appealing to investors
- Workers urge Marcos to stop corruption by banning political dynasties
- US appeals court finds Trump's global tariffs illegal
- Over 800 killed as quake rocks Afghanistan
- Comelec defers BARMM district reconstitution
- Modi and Putin affirm special relationship as India faces steep US tariffs over Russian oil imports
- Follow the trucks: Why investors are looking south of Metro Manila
- Trump to blacklist countries for imprisoning Americans
- US strike marks shift to military action against drug cartels
- 4 policemen linked to sabungero case slapped with more administrative cases
- Thai PM Paetongtarn Shinawatra sacked; new turmoil feared
