Lawmaker: Senate, House to push for economic Cha-cha

MANILA, Philippines — The panels of the House of Representatives and the Senate on Charter change have agreed to push for amendments to the economic provisions of the 1987 Constitution, according to House committee chair and Cagayan de Oro City Rep. Rufus Rodriguez.

Rodriguez said he and Senate committee chair Robinhood Padilla reached this consensus to open the country’s economy “to more foreign investments in order to create more jobs.”

“This will likewise support President Bongbong Marcos’ initiatives in meeting businessmen in different foreign countries to invite them to invest in the Philippines,” he noted in a Facebook post.

Under the Constitution, foreign investment is limited in public utilities, development of natural resources and education to only 40 percent; advertising to only 30 percent; mass media and land at zero percent.

The lawmaker added these constitutional prohibitions have limited the entry of foreign investments into the country.

So what happens, he said, is that these investments have gone instead to Singapore, Thailand, Malaysia and Vietnam “leaving the Philippines behind.”

After the briefing, Padilla also met with Speaker Martin Romualdez, Majority Leader Manuel Dalipe and Senior Majority Leader Sandro Marcos.

No silver bullet

Political science professors at the University of the Philippines have reminded lawmakers pushing for Charter change that it is not a “silver bullet” or a “holy elixir” that could solve the country’s problems. — Shiela Crisostomo with Janvic Mateo, The Philippine Star (FREEMAN)