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://xki-ofa-lsab-ivvj.052298.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.
This new law amends the Investors' Lease Act by extending the lease period limit of 75 years.
Escudero says new lease law to make PH more appealing to investors
- Argentine police recover Nazi-looted painting spotted in property ad
- ICC clears applications of 15 drug war victims to join proceedings vs Duterte
- National Guard troops begin carrying weapons in US capital
- Chinese sleeper agents' and PLA operatives a threat, Lacson warns
- DPWH chief rejects calls to resign as he vows to probe corruption in flood control projects
- Vico encourages citizens on Heroes’ Day to be brave
- Denmark summons US envoy over 'attempts to influence' Greenland
- Modi and Putin affirm special relationship as India faces steep US tariffs over Russian oil imports
- Go Negosyo, CFO push migrant empowerment
- Marcos orders lifestyle check on all govt officials amid flood projects probe
