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://tgw-pam-sma-fjb.771bg.com
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 new law amends the Investors' Lease Act by extending the lease period limit of 75 years.
- 175th birth anniversary of Marcelo H. Del Pilar commemorated in Manila
- China 'unstoppable', says Xi with Kim, Putin at his side
- Seoul says fired warning shots after North Korean troops crossed border
- FBI raids home of Trump critic, former adviser
- Some National Guard units in Washington are now carrying firearms in escalation of Trump deployment
- Japan PM Ishiba bounces back in polls after election debacle
- Over 800 killed as quake rocks Afghanistan
- Argentina hunts Nazi-looted painting revealed in property ad
- UK, Japan, South Korea endure hottest summer on record
- Marcos signs law giving 99-year land lease to foreign investors
