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., This news data comes from:http://www.yamato-syokunin.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.
- Sen. Go files bills to push health, social, and labor reforms
- Indonesia leader orders investigation into driver's protest death
- Tensions soar in Indonesia as protests over police brutality and lawmakers' allowances continue
- Pasig Mayor Vico Sotto attends House flood control probe
- Discaya says her family owns nine companies
- Pagasa sees cyclone-free week across PH
- China displays its weaponry in a tightly controlled military parade
- Discayas to file raps vs protesters, will attend Senate hearing — lawyer
- Dizon to order DPWH officials to submit courtesy resignation
- Malabon City honors partners
