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.
Escudero says new lease law to make PH more appealing to investors
He thanked President Ferdinand Marcos Jr. for supporting the measure.
The president on Saturday signed Republic Act 12252., This news data comes from:http://gi-qebr-ap-vd.aichuwei.com
This new law amends the Investors' Lease Act by extending the lease period limit of 75 years.
- Denmark summons US envoy over 'attempts to influence' Greenland
- Thailand’s next PM reaffirms fresh polls promise
- La Niña may return but temperatures will remain high, UN says
- PAL plane bound for Osaka returns to Manila due to 'emergency' situation
- UP journalism professor chides Rep. Gomez over ‘media spin’ claims
- Prompt release of educational aids sought
- Hopes fading for Putin, Zelenskyy peace summit
- Comelec to open nearly two-year overseas voter registration for 2028 elections
- Veteran Thai politician Anutin Charnvirakul wins vote in Parliament to become next prime minister
- Yemen's Huthis hold funeral for PM killed in Israeli strike
