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Rufus Rodriguez, a representative for Cagayan de Oro City’s 2nd District, declared on Wednesday that the rising support among members of President Ferdinand R. Marcos Jr.’s Cabinet for amending the Constitution’s economic provision has motivated him.

He said that Benjamin Diokno, the secretary of finance, was the most recent member of the Cabinet to back the House of Representatives effort to amend the Constitution’s limiting economic provisions.

“We are encouraged by Secretary Diokno’s encouraging remarks. He is a powerful voice in the government and in the corporate world,” he claimed.

Five Cabinet members have already provided position papers to the Senate Committee on Constitutional Changes, according to Rodriguez, chairman of the committee. He requested that they do so during prior public hearings.

He claimed that the director-general of the National Economic and Development Authority, Alfredo Balisacan, the secretary of the interior and local government, Benhur Abalos, the secretary of social welfare and development, Rex Gatchalian, and the secretary of foreign affairs, Enrique Manalo, all contributed to the position papers.

Pascual explained to the panel that newly passed laws allow for some economic liberalization in areas like telecommunications, retail trade, and foreign investment.

I believe we’re the only two countries (the other is Myanmar) that have economic restrictions and foreign (investment) limitations that are enshrined in the Constitution. “However, we still note that several foreign equity restrictions are still enshrined in the Constitution, rather in an investment law or sectoral legislation, which actually makes economic reform more challenging,” he said.

As for the restricted economic provisions, Balisacan stated that NEDA would be open to revisiting or changing them “in keeping with, of course, the purpose of accelerating our growth, projecting our worldwide position forward.”

In its Core Constitutional Reform Handbook, the DILG, according to Abalos, calls for changes to the Charter, including “liberalizing citizenship-based prohibitions on foreign direct investment.”

According to Gatchalian, revising the Constitution is both urgent and important, particularly with regard to the economic articles that are already out of date and no longer make sense in light of the current economic climate.

“Many foreigners desire to retire in our nation, but they desire to own their retirement residence. As a workaround, they most frequently end up marrying a Filipina. It’s really challenging for them to own an investment, Manalo remarked.

According to Rodriguez, the House proposal has received support from local government entities affiliated with the Union of Local Authorities of the Philippines, which is headed by Quirino Governor Dakila Cua.

“We can plainly see that some reforms are necessary to address the different issues the country is facing, whether through the process of a constituent assembly or constitutional convention,” Cua said.

Rodriguez claimed that efforts to alter the Charter’s economic sections had also been supported by the economic team of former President Rodrigo Duterte, which was headed by Carlos Dominguez at the time.

On March 6, the House of Representatives voted in favor of the Resolution of Both Houses No. 6, which called for a hybrid constitutional convention (con-con) to consider amending the Constitution’s economic clauses.

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