“Progress is impossible without
change, and those who cannot change their minds cannot change anything.” -
George Bernard Shaw
The
issue on whether to amend the Constitution has always been raised by both the
Senate and House of Representatives through Charter Change. There have been
initiatives to amend the 1987 Constitution under every presidential
administration. One of the amendments proposed was to change some restrictive
economic provisions of the constitution. Even the business sector has shown its
support to the Congress to change the economic provisions of the constitution,
particularly, the removal of foreign investment restrictions in some
industries.
“Much
has changed in Asia since the restrictions were placed in the 1987
Constitution,” the businessmen pointed out. The Philippines’ population has
more than doubled since 1987, they added. “Amidst this development, the largest
economic challenges are high poverty levels, ensuring inclusive growth, and
reducing underemployment,” they said. “The Philippine government should
maximize the amount of foreign investment generated as a means to drive down
unemployment and underemployment levels.” [1]
To
determine which economic provisions need amendment in order to attract higher
levels of foreign investments, we can turn to the seven foreign chambers of
commerce in the Philippines who did us the service of identifying the most
critical changes that can accelerate economic growth in the Philippines. In the very valuable document entitled
"Arankada Philippines 2010: A
Business Perspective," these needed amendments were literally handed to us
on a silver platter. On pages 279
to 282 of this document, we read:
"Constitutional restrictions on land ownership and public utilities
in place since 1935 are the most formal barriers to foreign participation in
the Philippine economy. Relaxing
them would ease the entry of foreign capital needed for further modernization
and growth and could increase competition in these sectors, benefiting the
entire economy. Other
constitutional restrictions limit foreign investment in advertising, education,
media and natural resources." [2]
Unlike
in other countries, Philippines have a great difficulty in attracting foreign
investors. Amendments in our constitution such as removing of the 60%-40%
equity limitations on foreign investors and the control and management
exclusively by Filipinos in companies with foreign equities, expanding the role
of foreign investors in the exploration, development and exploration,
development and utilization of natural resources, and allowing foreigners to
own industrial and commercial lands will surely make Philippines viable and
attractive country for Foreign Direct Investment.
These
Foreign Direct Investments will create lots of jobs, thus, helping the
Philippines eradicate unemployment. It’s not unknown to us that high
unemployment rate forces Filipinos to go abroad and leave their loved ones.
Also, by allowing these foreign investments, it will provide high quality
skills training and provide Filipinos with exposure to higher standards of
operation and business systems.
MBC
president, Ramon del Rosario Jr.
explains: “ Now is the time to address the restrictive provisions in our
economy because we are at what we call a “sweet spot” where there are so many
positive things happening in our country. Our economic growth and fiscal
stability – all these things are happening in our favour.” [3]
As
such, I believe that it’s necessary to amend the economic provisions of
constitution. Amendment of these is part of the democratic process. When the 1987 constitution was
constituted, the Philippines had just recovered from the Marcos regime.
Twenty-eight years had already passed. Change is inevitable especially the
conditions and situation of the society. The laws must adapt to these radical
changes. Our constitution, as the supreme law on the land, relies on the State
on the duty to provide good quality life to its people. The current leaders
must make sure that the Constitution will continue to be a tool for economic
opportunities and social justice for the people.
________________________________________________________________________
[1]
http://www.manilatimes.net/economic-charter-change-pushed/233050/
[2]
http://business.inquirer.net/12037/understanding-the-charter-change-issue
[3]http://www.philstar.com/opinion/2014/08/24/1361143/amending-constitution#sthash.7zOoj9ED.dpuf
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