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., This news data comes from:http://pvo-uw-pplh-splk.jyxingfa.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.
Escudero says new lease law to make PH more appealing to investors
He thanked President Ferdinand Marcos Jr. for supporting the measure.
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.
- Thai PM Paetongtarn Shinawatra sacked; new turmoil feared
- Lacson clears air over conflict with Marcoleta on flood control probe
- Isko Moreno files charges against contractor over illegal demolition of sports complex in Manila
- Students, faculty file complaint against Universidad de Manila president
- Israeli defense minister warns of Gaza City's destruction unless Hamas yields to his country's terms
- MMDA proposes rainwater facilities in Camp Aguinaldo to mitigate EDSA flooding
- National Guard troops begin carrying weapons in US capital
- Marcos orders lifestyle check on all govt officials amid flood projects probe
- Earthquake kills 250, injures 500 in Afghanistan
- US appeals court finds Trump's global tariffs illegal
