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
"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 news data comes from:http://wle.aichuwei.com
This new law amends the Investors' Lease Act by extending the lease period limit of 75 years.
- Marcos leads oath taking of new officers of League of Provinces of the Philippines
- DPWH chief rejects calls to resign as he vows to probe corruption in flood control projects
- US halts 80% complete, huge offshore wind farm
- Budget shortfall narrows in July
- Plea written in blood saves Chinese woman trapped in locked room
- Pope meets with Chagos refugees and delivers message about rights of the weak against the powerful
- Indonesia protests put spotlight on paramilitary police force
- Search for survivors after Afghan earthquake kills 800
- Task force cites new threats to media workers
- Bonoan freezes DPWH travel passes
