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://rn-dfo-njv-pcu.redcanaco.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.
He thanked President Ferdinand Marcos Jr. for supporting the measure.
The president on Saturday signed Republic Act 12252.
Escudero says new lease law to make PH more appealing to investors
This new law amends the Investors' Lease Act by extending the lease period limit of 75 years.
- Corruption crackdown: VP Sara Duterte, lawmakers call for deeper probe into government
- Govt debt swells to record P17.58T
- Trump tells Europe to put economic pressure on China over Ukraine
- Immigration deports 49 South Korean fugitives
- US approves .5M in assistance to Nigeria to help address hunger
- Preliminary report on Lisbon funicular accident expected
- SC clarifies rules on land ownership
- House holds budget review with 21 civil society organizations
- VP Sara lauds Filipino heroes
- President Marcos commits to boosting PH digital infrastructure
