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, This news data comes from:http://www.705-888.com
He thanked President Ferdinand Marcos Jr. for supporting the measure.
The president on Saturday signed Republic Act 12252.
Escudero says new lease law to make PH more appealing to investors
This new law amends the Investors' Lease Act by extending the lease period limit of 75 years.
- Pag-IBIG: More than 25k register for socialized housing units under Expanded 4PH
- Gomez-Estoesta named court administrator by Supreme Court
- Globe partners with unconnected.org to provide remote schools with sustainable internet connectivity
- 11 foreigners killed in Portugal funicular crash
- 2 Marikina policemen accused of molestation
- Marcos to create independent commission to investigate flood control anomalies
- Cooperatives group lauds Konektadong Pinoy Law as milestone in digital inclusion
- DFA: No US extradition request for Quiboloy
- Escudero subpoenas 5 contractors, 3 DPWH executives to Senate probe
- DOTr denies ordering shutdown of online selling platforms
