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.
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.
Escudero says new lease law to make PH more appealing to investors, This news data comes from:http://ijxluogd.gangzhifhm.com
- Two dead as strong earthquake jolts Afghanistan
- Escudero says new lease law to make PH more appealing to investors
- PNP chief Torre relieved from post — Palace
- Sen. Hontiveros pushes for Philippine Geriatric Center to aid seniors
- Iran says open to US nuclear talks, rejects missile curbs
- Trump says he wants to meet North Korea's Kim again
- Trump move to cut more foreign aid risking shutdown
- Quezon City hails directive for national projects to get local permits
- Opponents of Japan PM seek leadership contest
- UN force in Lebanon slams Israeli drone attack on peacekeepers
