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.
He thanked President Ferdinand Marcos Jr. for supporting the measure., This news data comes from:http://dl-yc-hncd-dt.redcanaco.com
The president on Saturday signed Republic Act 12252.
Escudero says new lease law to make PH more appealing to investors
This new law amends the Investors' Lease Act by extending the lease period limit of 75 years.
- Petitioners challenge claim NAIA fees lowest in Southeast Asia
- Go Negosyo, CFO push migrant empowerment
- 'New' position being offered to Torre — Palace
- PH doesn't recognize Taiwan as sovereign state, stands by 'One China Policy' -- Foreign Affairs chief
- Marikina City chief of police relieved
- Planning via ‘gender lens’ to make cities more inclusive — expert
- PH economic losses hit 100B from corruption in flood control projects
- House resumes budget briefings
- Israel launches new spy satellite in 'message' to enemies
- CFO office moves from Quezon City to Pasay
