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.
"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://bvir-gpk-dt-ienn.705-888.com
He thanked President Ferdinand Marcos Jr. for supporting the measure.
Escudero says new lease law to make PH more appealing to investors
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.
- 'Strangest' dinosaur covered in spiked armory — Scientists
- La Niña forecast from Sept-Dec, expect more tropical cyclones, above normal rainfall -- Pagasa
- House bill seeks to regulate AI use
- ‘Large shark’ kills man off Sydney beach
- Japan govt seeks to triple spending on drones
- Sri Lanka's jailed ex-president Wickremesinghe granted bail
- Some areas in Metro Manila, 5 provinces to have power interruptions due to maintenance works
- LPA has big chance of intensifying into tropical cyclone to be named ‘Kiko’
- Filipino weightlifter Vanessa Sarno banned for 2 years for anti-doping violation
- Kilauea's eruption is back as the Hawaii volcano shoots lava for the 31st time since December
