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.
Escudero says new lease law to make PH more appealing to investors, This news data comes from:http://ue.erlvyiwan.com
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.
- Tensions soar in Indonesia as protests over police brutality and lawmakers' allowances continue
- Macron says 26 countries pledge troops as a reassurance force for Ukraine after war ends
- Sri Lanka's jailed ex-president Wickremesinghe granted bail
- Manila Water announces service disruption for over 12K households in Mandaluyong due to leak repair
- 15 drug war victims cleared to join Duterte's ICC case
- IBP to form good governance panel
- Japan PM Ishiba bounces back in polls after election debacle
- Motive probed for US church shooting that killed 2 children, injured 17
- Comelec en banc upholds cancelation of Duterte Youth Party-List registration
- Eight towns in Cotabato cancel classes on Monday
