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://ycyzqzxyh.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.
- US church shooter 'obsessed with idea of killing children'
- Israeli strikes in Yemen's capital kill six, Houthis say
- Rep. Tiangco reveals P17B flood control allocations linked to former appropriations chairman Rep. Zaldy Co
- Widespread flooding in Quezon City due to heavy rains, stranding commuters, rendering most roads impassable to vehicles
- Hontiveros pushes P15,000 salary hike for teachers
- Indonesia turns down ear-splitting 'haram' street parties
- Thousands protest in Indonesia as military deployed in capital
- India to develop fighter jet engines with French company
- Israel tells residents to leave Gaza City ahead of offensive
- Support grows for independent probe into flood control projects
