NextGen Day

On Saturday, the chair of the House Committee on Constitutional Amendments revealed that their group is preparing to concentrate on ideas pertaining to economic reforms and foreign investments.

Rufus Rodriguez, the representative for this city’s 2nd District, said in a statement that the recent public consultation on the Constitutional Reform has prompted the committee to take these areas into consideration as the nation is positioned to catch up to other Southeast Asian nations in terms of foreign direct investments (FDI).

“President Ferdinand “Bonbong” Marcos Jr. has traveled extensively to persuade investors to invest in the Philippines. The fact that we have 60-40 economic constraints deters foreign enterprises, which is counterintuitive, he remarked.

The 60-40 restriction on public utilities has long been cited by lawmakers as a deterrent to foreign companies setting up shop in the nation.

According to Rodriguez, there are already eight bills requesting that the Constitutional Convention submit adjustments, and two more resolutions that aim to bring about economic improvements.

The first public hearing outside of the Batasan Pambansa took place in this city on Friday, February 10, during the Public Consultation on Constitutional Reform.

According to Rodriguez, the purpose of the consultation is to gather opinions and remarks from various groups on the proposed Constitutional amendments.

To provide an inclusive and thorough report on suggested actions, the committee is anticipated to have additional consultations, particularly in the provinces of Iloilo, Pampanga, and Bulacan.

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