A proposal to change economic provisions of the Philippine Constitution to make it more investor-friendly is unnecessary and duplicates recently enacted legislation, according to several senators. READ:
THE INAUGURAL session of the Constitutional Commission of 1987 presided over by Vice-President Salvador Laurel. — OFFICIALGAZETTE.GOV.PH
“The country is still recovering from the impact of the pandemic, but we’re confident these reforms are sufficient to encourage investors and help revitalize our economy,” she added.“What we need is unity to prepare for a possible global recession,” she said. “We should focus on issues that are directly connected to the stomach such as the price of basic commodities and problems in agriculture.”
“There’s no need at the moment for a constituent assembly,” she told reporters in Filipino, according to a transcript sent by her office. “Unless the proponents are pushing for another agenda.” John Paolo R. Rivera, an economist at the Asian Institute of Management, said he supports economic liberalization, but the Charter change push could just duplicate the amended Public Service Act, for one.
He also proposed to disallow private companies from holding alienable lands of the public domain except by lease for at most 25 years, renewable for not more than 25 years, and not to exceed 1000 hectares.
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