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.
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.
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., This news data comes from:http://yamato-syokunin.com
- 102-year-old becomes oldest person to summit Mount Fuji
- Thailand acting PM moves to dissolve parliament — party
- NKorea could produce ten to twenty nukes per year — SKorea leader
- Manila mayor warns against mobs, orders police to maintain peace and order
- AFP: It would take more than a tugboat to tow BRP Sierra Madre from Ayungin Shoal
- Thai woman jailed for 43 years for lese majeste freed
- Venezuela builds up border security over US warships
- Trump moves to end US tariff exemption for small packages
- Bonoan freezes DPWH travel passes
- Marcos to create independent commission to investigate flood control anomalies
