Businessmen support Belmonte’s move

A number of business groups welcome Speaker Sonny Belmonte’s move to file a resolution seeking to amend certain articles in the 1987 Constitution, in particular the economic provisions deemed as restrictive. Businessmen are banking on Speaker Belmonte’s determination, with the protectionist provisions in Articles 2, 12 and 16 either limiting or outright banning foreign ownership in certain industries or sectors – which deter foreign investments from flowing into the country. 

Speaker Belmonte’s proposal will be passed much like any other bill – except that it will require a three-fourths vote from both houses, after which it will be subjected to a national referendum. The resolution also has a phrase that would enable Congress to craft specific laws to deal with the constitutional restrictions which can be debated later on, aside from the fact that the president still retains his veto power – which many people say is a very clever move on the part of the Speaker. 

The fear of some people that any initiative to amend certain provisions could lead to something else is unsubstantiated since President Aquino obviously does not intend to perpetuate his tenure. What’s important is to assuage the fears of foreign businessman that they could be left holding an empty bag due to the ambiguities in certain provisions – like what happened when a Malaysian consortium found itself getting the raw end of the deal when the Supreme Court voided its bid and invoked a “patrimonial” provision saying that the historic Manila Hotel should remain under Filipino ownership.  It’s these volatile (and some say whimsical) decisions that make many potential investors jittery. The President has already made a lot of headway in changing perceptions about the Philippines being an unstable business destination – and amending the restrictive provisions can provide a more encouraging image of the investment climate here in the country.

As Bill Clinton would say, “It’s the economy, stupid!” – something that must have been foremost in the mind of Speaker Belmonte, commenting that we are lagging behind our neighbors as far as attracting foreign direct investments are concerned. And while the country has been showing phenomenal growth, this has not been inclusive – meaning the growth has not really trickled down to the poor majority as attested to by recent statistics showing that poverty incidence has not really lessened in the past six years.

Under the current constitution, foreign companies cannot own land (unless Filipinos own 60 percent of the corporation) and are absolutely not allowed ownership of media companies – which is unfortunate because we can benefit from the technology used by foreign news and broadcasting entities. Certainly, the big networks can benefit from foreign infusion to help expand their global reach, especially because Filipinos are practically all over the world and therefore, would very much welcome getting “local” news in their homes abroad.

MOPC bids farewell to Ambassador Thomas

The farewell dinner hosted by the Manila Overseas Press Club for outgoing US Ambassador to the Philippines Harry K. Thomas was well attended, with no less than Vice President Jejomar Binay gracing the occasion (in photo with the MOPC Board’s Tony Lopez, Emil Jurado, Joey Leviste, Hector Villanueva, Nelia Gonzalez, Beth Lee, Maloli Espinosa and Elpi Cuna).

The testimonial dinner also commemorated Filipino-American Friendship Day, with guests from the diplomatic circle such as Ambassador Reuben Levermore of New Zealand, Netherlands Ambassador Ton Boon von Ochssee, Ambassador John Gomes of Bangladesh, Turkish Ambassador Hatice Pinar Isik and Ambassador Agnes Nyamande Pitso of South Africa. 

Senator Loren Legarda, who had just come from Europe, was also present along with Congressman Martin Romualdez as well as businessmen that include Miguel Varela, Philippines, Inc.’s Tonyboy Cojuangco, Tony Lopa, Susing Pineda and hotelier Arthur Lopez.

Vice President Jojo Binay, who has become a close friend of Ambassador Thomas, was there to officially bid the American Ambassador goodbye during the MOPC affair.  Prior to his posting in the Philippines, Ambassador Thomas already started learning Tagalog – and he drew a lot of laughs when he regaled the audience with the interesting Tagalog words that he learned during his stint here – among them “balimbing” and “sipsip” which VP Binay told him has evolved into a fresh term known as “WBC” – or “wanna-be-cronies.”

Disturbing mortality rate

While pro and anti Reproductive Health bill groups continue to engage in a legal battle, about 15 Filipina women die every day due to childbirth and childbirth-related complications. Worse, more and more teenage mothers aged 15 to 19 are also dying according to the National Statistics Office due to sepsis, hypertension, hemorrhage and other complications brought about by childbirth including unsafe abortion. 

At the MOPC event, Ambassador Thomas disclosed that an average of 11 women die of childbirth in rural areas in the Philippines – a situation that the USAID hopes to help prevent through an initiative (with the DOH) to develop oxytocin in injectable form that would stay stable for two weeks even without refrigeration. This can help save 4,000 women from dying every year, the Ambassador said, noting that infants also have little chance of surviving without their mothers. While the RH debate rages on, perhaps attention should also be focused on the risky health situation of these women who want to limit the number of their children but do not have the financial means to do so.

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Email: spybits08@yahoo.com.