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.jyxingfa.com
This new law amends the Investors' Lease Act by extending the lease period limit of 75 years.
- Palace slams Discaya couple's denial in Film Heritage Building debacle
- Wawao Builders exec ‘not sure’ if company has flood control project in Bulacan
- Cebu Pacific to launch direct flights between Cebu and Palawan
- Immigration: 1st lookout bulletin in effect on 35 individuals, including Discayas, linked to anomalous flood control projects
- ChatGPT to get parental controls after teen's death
- Malaysia warns TikTok vs cyberbullying, deepfakes
- Trump to blacklist countries for imprisoning Americans
- Marcos willing to submit to a lifestyle check
- MMDA readies for FIVB men’s volleyball
- Maryland resident is diagnosed with New World screwworm. What to know about the parasite
