Amending the economic provisions of the 1987 Constitution appears to be the final piece of the puzzle to ensure the country’s growth, House of Representatives Speaker Ferdinand Martin Romualdez said. | GabrielLaluINQ
“You know, the Philippines moves up from the third world country tier to the second world, to a developed country status. So we’re trying to position ourselves to that, and we just have to be very competitive, and I always get that sense, every time I go out on these trips, I get the sense that this is something holding us back,” he added.
The House Speaker said this is why the House has been doing consultative meetings with the people, alongside with Congressional hearings to gauge if the country is prepared to tackle charter change. “That’s why we’re having these hearings, these consultations with the people, and if they are ready and willing, because we think at the end of the day, dito talaga makikinabang ang taumbayan kapag binuksan talaga ‘yong ekonomiya, dadagsain talaga tayo ng investments kasi nafi-feel talaga natin dito,” he noted.Romualdez’s statements appear to be a somewhat change of heart regarding charter change.
Recently, the House Committee on constitutional amendments heard proposals to amend the constitution based on several factors, including the economic provisions which prevent the foreign ownership of land and businesses. While there is a strong push to amend these provisions supposedly to allow more investments to come in, several legal luminaries including former Bayan Muna lawmaker Neri Colmenares reasoned out that nearby countries like Taiwan and Singapore did not need a high rate of foreign direct investments to start and sustain economic growth.
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