By Liza Soriano
MANILA — Senator Grace Poe questions the necessity of Charter Change to demonstrate that the Philippines is open for business, highlighting the country’s existing openness to foreign investors.
“We have made significant progress in recent years in liberalizing our economy without compromising our national security or neglecting Filipino businesses,” Poe stated in her opening remarks during the public hearing on Resolution of Both Houses (RBH) No. 6 held on Monday (Feb 12, 2024).
“Would amending the public utilities provisions in our Constitution truly open up the economy, or would it open a Pandora’s box? It’s important to bring into the discussion the debates and deliberations surrounding the Amended Public Service Act (PSA) in sectors open to foreign control,” the senator added.
Currently, the Senate is deliberating on the proposal to amend the economic provisions of the 1987 Constitution.
Poe, the principal author of the Public Service Act (PSA), emphasized that those advocating for Constitutional amendments should first examine the PSA, noting that the law has already opened the economy to foreign investors to the benefit of Filipinos.
“So if we hadn’t allowed the Public Service Act, there would be no Starlink in areas with no signal. So when they say we need to open up our economy, I hope they first study this law that we have already passed,” Poe remarked.
“In addition, we have also opened up our airlines and shipping lines to significant investments, networks, and innovation.”
(el Amigo/MNM)
