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.
"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://yamato-syokunin.com
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
- US strike marks shift to military action against drug cartels
- Gasoline, diesel prices to increase again next week
- Islamic State claims deadly attack on Pakistan rally
- PNP chief Torre relieved from post — Palace
- Indonesia leader orders investigation into driver's protest death
- Duterte party's acting chairman charged at Sandiganbayan over Malampaya project
- Vietnam evacuates thousands ahead of Typhoon Kajiki
- Malacañang hits back at VP Duterte's criticism on flood scam probe
- LTO summons driver who berated enforcer
- Padilla: Drug testing bill not aimed at Marcos
