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://xero-ua-ig-sg.xs888999.com
Escudero says new lease law to make PH more appealing to investors
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.
- Sen. Go calls for round-the-clock DFA support for OFWs welfare
- 2028 polls overseas voter registration opens in Dec
- Pag-IBIG Fund gives occupants 10% discount to legally buy acquired homes
- Chery Tiggo survives Creamline in cardiac five-setter in PVL Invitationals
- DILG to roll out nationwide unified 911 hotline on Sept. 11
- Giovanni Lopez pledges to continue and expand DOTr reforms
- Five killed in New York state tourist bus crash
- Tariffs, migration and cartels will top Rubio's talks in Mexico and Ecuador this week
- A suicide bombing near a political rally in southwestern Pakistan kills 13 and wounds 30
- Construction managers, developers back Housing chief's anti-corruption advocacy
