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., This news data comes from:http://www.yamato-syokunin.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.
- US approves .5M in assistance to Nigeria to help address hunger
- PH Construction Board asked to address 'accreditation for sale' scandal
- IBP forms committee on good governance to probe corruption
- Rains over Metro Manila, parts of PH as LPA may develop into 'short-lived' tropical depression
- Padilla: Drug testing bill not aimed at Marcos
- 'Perfect storm': UK fishermen reel from octopus invasion
- Customs preparing report on Discayas’ 28 luxury cars
- UK, Japan, South Korea endure hottest summer on record
- 'Lannie' exits PH — Pagasa
- MMDA proposes rainwater facilities in Camp Aguinaldo to mitigate EDSA flooding
