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.
Escudero says new lease law to make PH more appealing to investors, This news data comes from:http://tn-avhg-mxij-yaeb.erlvyiwan.com
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.
- Eala kicks off US Open campaign, aims for breakthrough win in New York
- SSS hails Marcos, Recto for initiating pension reforms, including one to be rolled out in Sept
- Labubu fans flock to stores after launch of mini dolls
- PH, Australia, Canada hold maritime drills in West Philippine Sea
- Nepal to block unregistered social media platforms – govt
- Israel expects 1 million Gazans to flee new offensive
- North Korea's Kim Jong Un travels to Beijing to watch military parade alongside Putin, Xi Jinping
- Cambodia MPs pass law allowing stripping of citizenship
- Xi and Putin's hot mic moment: How long will science extend the human life span?
- Trump moves to cut more foreign aid, risking shutdown
