The High Court declares the tripartite agreement among Philippine, Vietnamese, and Chinese oil firms unconstitutional.
MANILA, Philippines – The Supreme Court on Tuesday, January 10, ruled that only the Philippines can supervise the exploration of its natural resources, declaring the agreement among Philippine, Vietnamese, and Chinese oil firms unconstitutional.
“The Court ruled that the JSMU is unconstitutional for allowing wholly-owned foreign corporations to participate in the exploration of the country‟s natural resources without observing the safeguards provided in Section 2, Article XII of the 1987 Constitution,” the High Court said in aChief Justice Alexander Gesmundo and 10 other justices concurred in the decision, while Associate Justice Amy Lazaro-Javier and Associate Justice Rodil Zalameda dissented.
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