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., This news data comes from:http://erlvyiwan.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.
- Kneecap to play Paris concert in defiance of objections
- Social pension eyed for indigent seniors
- PH Construction Board asked to address 'accreditation for sale' scandal
- Afghan quake death toll surges to over 2,200
- Globe partners with unconnected.org to provide remote schools with sustainable internet connectivity
- Israel tells residents to leave Gaza City ahead of offensive
- DPWH told to build evacuation centers
- Wildfires producing 'witches' brew' of air pollution – UN
- San Juan commemorates first revolution under Spanish rule in 129th Araw ng Pinaglabanan
- Need to pee? Japan has QR code for that
