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, This news data comes from:http://yamato-syokunin.com
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.
- Isko files raps over demolition of sports complex
- PH, Australia, Canada hold maritime drills in West Philippine Sea
- New law lets foreigner investors lease land for 99 years
- LPA east of Surigao del Sur may intensify into tropical depression
- PTFOMS and CHR sign agreement to improve Filipino media workers' safety
- Macron's decision to recognize Palestinian state angers Israel and the US
- US approves .5M in assistance to Nigeria to help address hunger
- Filipino priest wins Ramon Magsaysay Award for activism against Duterte's drug war
- DICT grants amnesty to unregistered delivery firms
- US Spirit Airlines files for bankruptcy again
