Speaker Ferdinand Martin Romualdez said the focus of the proposed amendments is the economic provisions of the Constitution.
“Ito lamang ang pakay natin. Ekonomiya, hindi pulitika,” he told his colleagues as he opened the plenary-like Committee of the Whole House deliberations on economic amendment proposals contained in Resolution of Both Houses (RBH) No. 7.
Romualdez lamented that while he and other House members pushing for the amendment of the Charter’s economic provisions, they are being accused of being opposed to “these essential reforms.”
“Now, to dispel doubts that the efforts of the House of Representatives in pushing for the amendment of the economic provisions of the Constitution is politically-motivated, we are adopting all the three proposed amendments of the Senate version of Resolution of Both Houses No. 6, in toto,” he said in a press release.
He was referring to the resolution introduced in the Upper Chamber by Senate President Juan Miguel Zubiri and senators Loren Legarda and Juan Edgardo Angara.
The House version, RBH No. 7, is authored by senior deputy speaker Aurelio Gonzales Jr. and other House leaders.
“This should assure the public that Congress is only touching on the economic provisions that need to adapt with the changing times. There is absolutely nothing in RBH 7 that hovers on any political provision of the Constitution,” Romualdez said.
He said the economic Charter reforms the House is pushing for aim “to create an environment ripe with opportunities where jobs are plentiful, education is world-class, and the fruits of progress are shared by everyone.”
The leader of the 300-plus-strong House called on the Filipino people “to support this great leap forward.”
He said constitutional amendment proposals are “a matter of utmost national concern that will impact, not just the present citizens of our great nation, but also the generations to come.”
He stressed the need and urgency of effecting economic Charter changes. “The times are changing. We need to adapt if we are to become more competitive globally, invite technological advancement, and provide a more conducive economic platform where people have wider opportunities for growth.”
The amendment proposals are three-pronged, one, reform the public service sector; two, open access of children to the best educational institutions, whether Filipino or foreign-owned; and three, liberalize the advertising industry.
“Reforming the provisions of the Constitution on foreign equity ownership in corporations, including those that operate public services, would further open up the Philippine market, and attract significantly bigger foreign direct investments,” Romualdez said.
He said more investments could lead to cheaper and reliable power and electricity, cheaper and faster internet service, and better and modern transport system.
He added that the restrictive economic provisions also affect education. “Currently, ownership of educational institutions is limited to Filipino citizens and corporations with 60-percent Filipino ownership. The control and administration of educational institutions are currently reserved to Filipinos exclusively,” Romualdez said.
As for the advertising industry, the Speaker said this is another area that is unnecessarily restricted by the current Constitution, which limits foreign equity participation to 30 percent.
“This is a peculiar situation considering that the very concept of advertising is to reach as many and as far as possible. Limiting foreign investments in an industry that is boundless is a point to ponder on for the Committee of the Whole House,” he said.
He emphasized that the proposed economic amendments would give policymakers “more flexibility in our economic policies and be able to compete with other countries for foreign investments by removing the constitutional restrictions and allowing Congress, through legislation, to set the terms and conditions for foreign investments in vital sectors of our economy.” ||
