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://jg-lsal-kn-ca.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.
- China to bolster non-Western alliances at summit, parade
- Repairs on Chinese ship in Bajo de Masinloc collision may take 2 months - PH Navy
- P1.7-M shabu seized in Taguig buy-bust
- DOTr denies ordering shutdown of online selling platforms
- Iran-backed Houthis raid UN offices in Yemen and detain at least 11 employees
- Pag-IBIG Fund gives occupants 10% discount to legally buy acquired homes
- Govt eyes charges vs Discayas over 'unfinished' PH Film Heritage Building
- ‘God’s Influencer’ to become first millennial saint
- Jollibee, DepEd partner to develop quick service restaurant curriculum for senior high
- Escudero subpoenas 5 contractors, 3 DPWH executives to Senate probe
