Attempts to amend the Constitution have been made since the Fidel V. Ramos administration, but none have succeeded amid fears that any push would eventually result in politicians’ longer stay in office. More in this explainer:
, lawmakers turn to charter change discussions in a supposed bid to accelerate the country’s economic growth.
“To me, it’s off that we have thought of charter change amid the many problems our economy has,” added Agustin Arcenas, associate professor from the University of the Philippines Los Baños’ College of Public Affairs and Development. Tambunting wrote that the goal is to “accelerate economic growth and fulfill the Philippines’ international commitment.”
In a proposed amendment, the phrase “unless provided by law” will be added to give lawmakers the option to pass a measure that would provide a wider leeway for foreign investors to operate. Yusingco said the expectation at that time was that wealthy Filipinos would invest their money in the Philippine economy.
“But for other sectors like telecommunications, why not, so that we could improve our internet and phone services,” he added. “It’s not a win-win situation with all its negative impacts. There’s a winner and there’s a loser. The question is: what do you do with the loser, how do you help the loser?” he asked.
Manuel added that a 100% foreign ownership will erode the capacity of the country to stand on its own feet on matters such as food and energy sources.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Explainer: What guns were used to attack a Lunar New Year party in California?A 72-year-old man fatally shot 11 people celebrating the Lunar New Year at a ballroom near Los Angeles on Saturday night, according to the county sheriff. Here is what is known so far about
Read more »
Two dead in another US shooting, this time in IowaTwo people died and a third was seriously wounded Monday in a shooting at a youth outreach center in Des Moines, Iowa, police said.
Read more »
Seven dead in two shootings in northern California: media reportsSeven people have been killed and one critically injured Monday in two shootings in Half Moon Bay in northern California, US media reported.
Read more »
Seven dead in two new shootings in Northern California–media reportsLOS ANGELES -- Seven people were killed and one critically injured Monday in two shootings in Half Moon Bay in northern California, US media reported. There was no immediate
Read more »
Two students and adult fatally shot at Iowa school programTwo students were killed on Monday and an adult was seriously wounded in a "targeted" shooting at a nonprofit educational center for at-risk youth in Des Moines, Iowa, local police
Read more »
Marcos orders two-month sugar buffer stockPRESIDENT Ferdinand Marcos Jr. on Tuesday ordered the establishment of a two-month buffer stock for sugar to temper market price and ensure availability. 'To cut down speculation,...
Read more »