After being silent on the issue for a few months, Romualdez yesterday said he is in favor of allowing foreign investors to lease Philippine lands on a long-term basis.
“I’ll join Senate President Francis Escudero on his initiative here on the Foreign Investors Long-term Lease Law,” the leader of the 310-member House of Representatives told Teleradyo.
The Speaker’s stand is a deviation from the House-approved Resolution of Both Houses 7 (RBH 7), where prohibitive economic provisions in the 1987 Constitution are eased in order to entice more foreign direct investments.
“This (long-term lease) is one step where we can hopefully attract foreign investors, where they no longer need to buy lands because we will be giving them a long-term lease contract on the lands they want to utilize,” Romualdez, fully aware of the delicate issue of foreign land ownership, explained.
This story is from the July 04, 2024 edition of The Philippine Star.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the July 04, 2024 edition of The Philippine Star.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
The Philippine Madrigal Singers celebrate 60 years
The Philippine Madrigal Singers or the Madz is now 60 years old. More than 60, in fact, it is currently on a year-long celebration of its six decades of existence.
Manila Water extends pipe coverage in Taguig
East Zone concessionaire Manila Water Co. Inc. said it would be able to service 700,000 more customers in Taguig once its P577-million pipelaying project in the city is completed by next year.
Cebu Pacific restructuring to wipe out P16-B deficit
Low-cost carrier Cebu Pacific is pursuing a restructuring plan to eliminate more than P16 billion in deficit, nursing its balance sheet prior to the closing of its largest plane order.
RLC funnels in P34-B assets to REIT unit
Robinsons Land Corp. (RLC), the real estate firm of the Gokongwei family, has infused P33.92 billion worth of assets to its real estate investment trust unit RL Commercial REIT Inc. (RCR) via a property-for-share swap.
Pag-IBIG secures highest COA rating
The Home Development Mutual Fund, commonly known as Pag-IBIG Fund, has received the highest evaluation granted by the Commission on Audit (COA) for its financial statements.
PSEI bounces back on positive cues from Wall Street
The stock market immediately returned to its winning ways yesterday after Tuesday’s loss as investors sought inspiration from positive developments in Wall Street.
Phl to lead Asean in growth - ADB
The Philippine economy is expected to post the fastest growth in Southeast Asia this year and next, according to the Asian Development Bank ADB).
MERALCO BRINGS BACK DURHAM
Get ready for Round 4 of the Justin BrownleeAllen Durham matchup.
'Trump will protect gun rights'
Despite assassination attempt
Luzon grid on yellow alert anew
After more than a month, the Luzon grid was placed under yellow alert again yesterday due to the forced outage of a 417-megawatt natural gas-powered plant in Batangas.
