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://www.gangzhifhm.com
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.
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.
- Widespread flooding in Quezon City due to heavy rains, stranding commuters, rendering most roads impassable to vehicles
- Heavy rain falls in parts of Southeast Asia after tropical storm blows into Vietnam Heavy rain falls in parts of Southeast Asia after tropical storm blows into Vietnam
- Artikulo Onse' group calls for independent panel to probe flood control corruption
- Sara Discaya admits owning 28 luxury cars
- Vico Sotto could challenge VP Sara in 2028 race – survey
- South Korea to ban mobile phones in school classrooms
- Denmark summons US envoy over 'attempts to influence' Greenland
- Berlin urges Israel to 'immediately' improve humanitarian conditions in Gaza
- WorldSkills Asean Manila begins
- National Guard troops begin carrying weapons in US capital
