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.
He thanked President Ferdinand Marcos Jr. for supporting the measure.
The president on Saturday signed Republic Act 12252., This news data comes from:http://rgqg.redcanaco.com
This new law amends the Investors' Lease Act by extending the lease period limit of 75 years.
- CFO moves office from QC to Pasay
- Go seeks more support for Filipino athletes
- Chinese bridge collapse kills at least 12 construction workers
- Brawner orders troops: Stop China from boarding BRP Sierra Madre at all costs
- Kris Aquino is alive, says friend amid reports of death
- Sen. Hontiveros pushes for Philippine Geriatric Center to aid seniors
- President asks governor to expose irregularities in govt projects
- Lacson to govt: Protect education budget
- Marcos orders lifestyle checks on all government officials amid flood control probe
- Pump prices go up
