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://nwek.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.
Escudero says new lease law to make PH more appealing to investors
- Argentina hunts Nazi-looted painting revealed in property ad
- Israel ups pressure on Gaza City as Trump talks post-war plan
- Marcos mum on Magalong joining independent commission for DPWH probe
- HFMD cases on the rise
- China's Xi holds talks with North Korea's Kim in Beijing
- Wife and ally of ousted SKorean president indicted by special prosecutors
- Ballots for oct 13 BARMM polls completed – Comelec
- Iran confers with European nations on its nuclear program as sanctions deadline nears
- Thai woman jailed for 43 years for lese majeste freed
- 100K Pakistanis flee amid flood threat
