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., This news data comes from:http://www.aichuwei.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.
Escudero says new lease law to make PH more appealing to investors
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
- House starts flood control probe
- DILG denies allegations that PNP chief fired over firearms deal
- Oil firms to raise fuel prices this week
- PCG seeks to expand drone use to maritime patrols, law enforcement
- Police brutality fuels soaring tensions in Indonesia
- Philippine forces deliver supplies and personnel to disputed South China Sea shoal despite tensions
- Globe partners with unconnected.org to provide remote schools with sustainable internet connectivity
- PH, Australia eye stronger defense partnership
- Housing secretary declares 'zero-tolerance' policy on corruption
- Dizon to order DPWH officials to submit courtesy resignation
