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., This news data comes from:http://www.redcanaco.com
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.
Escudero says new lease law to make PH more appealing to investors
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.
- Trump stamps 'dictator chic' on Washington
- Trump health misinformation swirls despite denial
- Preliminary report on Lisbon funicular accident expected
- Modi reaffirms India's support for Ukraine peace settlement during call with Zelenskyy
- National Guard troops begin carrying weapons in US capital
- AFP: It would take more than a tugboat to tow BRP Sierra Madre from Ayungin Shoal
- Over 800 killed as quake rocks Afghanistan
- Support grows for independent probe into flood control projects
- Isko files raps over demolition of sports complex
- Pagasa monitors LPA off Cavite, may still become tropical depression
