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.gyglfs.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.
- 13 massage therapists robbed, 2 cry rape
- Roxas matriarch, 91
- South Korea to ban mobile phones in school classrooms
- Philippines calls for Gaza ceasefire amid humanitarian crisis
- OVP ready to submit to lifestyle check if ordered, no word from Sara
- Ukraine says Russia linked to lawmaker's killing
- Venezuela builds up border security over US warships
- Filipino weightlifter Vanessa Sarno banned for 2 years for anti-doping violation
- Duterte Youth brings Comelec cancelation battle to Supreme Court
- Taiwan: China illegally deploying oil rigs in its waters
