In the Philippines, chairman of upper house constitutional amendment panel submits proposed changes to economic provisions

By Beatrice Pinlac, 3 April 2023
Flag of the Philippines (photo credit: pixabay)
Flag of the Philippines (photo credit: pixabay)
Sen. Robinhood Padilla, chairman of the upper chamber’s panel on constitutional amendments, on [31 March] released his unnumbered committee report proposing amendments to economic provisions of the 1987 Constitution through a constituent assembly. “To accelerate economic growth and fulfill its international commitment, the Philippines must amend its Constitution by removing restrictive economic provisions to allow foreign businesses to invest in a more conducive landscape directly,” a part of the report stated. But there’s still a long way to go to get the proposal to the Senate plenary since only Padilla’s signature is so far affixed on the report[.] [The proposal includes changes to the management of natural resources, land ownership, educational institutions, and mass media.] [...] “The amendment[s] to the Constitution [are] to allow higher foreign investment or capital in various economic activities that would generate jobs for the people, induce higher wages, improve performance of service sectors and reduce the cost of goods and services through economic competition, which are evident benefits gained by other countries that have eased restrictions to foreign direct investments,” the committee report noted.
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