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.
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 news data comes from:http://www.gyglfs.com
This new law amends the Investors' Lease Act by extending the lease period limit of 75 years.
- PNP disputes China's crime advisory, says Philippines crime rate dropped
- MMDA unveils plan to build rainwater impounding facilities in Camp Aguinaldo
- May 12 poll results accurate, credible - OCTA Research
- Trump says he wants to meet North Korea's Kim again
- PH, Australia, Canada hold joint sea drills
- House resumes budget briefings
- NKorea could produce ten to twenty nukes per year — SKorea leader
- New Zealand to allow some wealthy foreign investors onto property market
- China races to build world’s largest solar farm
- Oil firms to raise fuel prices this week
