![[ANALYSIS] Why charter change is needless right now](https://i.headtopics.com/images/2023/3/6/rapplerdotcom/analysis-why-charter-change-is-needless-right-now-analysis-why-charter-change-is-needless-right-now-1632682196799565826.webp)
'In September 2022, charter change didn’t even come up in the list of Filipinos’ most urgent national concerns.' ThoughtLeaders
Apart from the Maharlika Investment Fund, lawmakers are railroading another bill that stands to bring about dubious economic benefits: charter change.
The House leadership has been pushing for this aggressively in the past couple of months, and they have even paraded the proposal in roadshows across the country. of investors’ sentiment is that, “We would like to come to the Philippines but your Constitution limits our participation, our equity.”, Rodriguez et al. found support in some economists. National Scientist Raul Fabella, for instance, said that he’s okay for some constitutional provisions to be dropped, including the one saying that Filipinos should own at least 60% of certain industries.
Meanwhile, another former NEDA head, UP Professor Emerita Winnie Monsod, argued compellingly – citing study after study – that charter change is not a necessary condition for a country to grow its economy. She: “Amending the Constitution is neither necessary nor a sufficient condition to attract FDI and may entail burdensome costs.”
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