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, This news data comes from:http://www.gyglfs.com
"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
- In Taiwan, competing narratives over the meaning of China's massive military show
- North Korea's Kim in China ahead of massive military parade
- Classes suspended in 10 Metro Manila cities due to rains
- La Niña forecast from Sept-Dec, expect more tropical cyclones, above normal rainfall -- Pagasa
- Comelec at 85: Garcia vows reforms
- Dial 911: New nationwide emergency hotline to go live on Sept. 11
- Philippines calls for Gaza ceasefire amid humanitarian crisis
- Appointments panel holds first session
- Tensions soar in Indonesia as protests over police brutality and lawmakers' allowances continue
- BuCor chief calls for major reforms
