Legal luminaries at business experts, muling kinukunsulta ng Senado sa talakayan sa economic Cha-Cha
Legal luminaries at business experts, muling kinukunsulta ng Senado sa talakayan sa economic Cha-Cha
Category
🗞
NewsTranscript
00:00 [Music]
00:02 [Foreign Language]
00:31 I believe that it should not be in the Constitution.
00:34 It should be in an ordinary legislation.
00:37 I'm for restriction, but it should be flexible.
00:40 Economic provisions, economic policies should be flexible to meet changing times in the economy.
00:48 [Foreign Language]
00:54 However, I noticed in your resolution about Houses No. 6
00:58 that you start with saying, "Be it enacted."
01:01 Enacted. That is legislation.
01:04 So don't say, "Be it enacted." Say, "Be it resolved."
01:08 Because you are not proposing a bill.
01:11 You are not proposing to make a law.
01:13 You are proposing to amend the Constitution.
01:16 [Foreign Language]
01:26 What our country and our people need today are not amendments to or revision of the Constitution,
01:34 but the full implementation of its principles and state policies.
01:40 The Senators were not sure that the discussion on the amendment of the Constitution would be easy.
01:46 They were also able to agree on the amendment of economic provisions.
01:51 And they were assured that the political provisions would not be changed.
01:55 We will not be falling into a trap on any deadline.
02:00 We, ladies and gentlemen here in the Senate, will make sure that we deliberate this as much as possible
02:07 and come up with the best outcome for our people.
02:10 And so with that, I give my full support to our Chairperson, Senator Stanley Angara.
02:17 The timeline is in your hands.
02:19 Let us not think that this is a miracle that when we pass it, it will suddenly come and knock on our doors,
02:26 the residents and businessmen.
02:29 Because, as our colleagues have said, there are many factors.
02:33 We will continue to be vigilant while we are here in the RBH 6 hearings.
02:40 We will also be vigilant in the movements of our colleagues.
02:44 While we make sure that RBH 6 sticks to the original intention to amend only economic provisions of the Constitution.
02:52 According to former Finance Secretary Gary Tevez,
02:55 the removal of restrictive economic provisions is more desirable for foreign investors.
03:01 Although there are liberalization laws in the past administration, it seems that it is not enough.
03:09 The Philippines still lags behind its ASEAN peers in foreign direct investment.
03:14 Data as of 2022 indicate that Indonesia, Vietnam, Malaysia and Thailand have surpassed the Philippines in attracting foreign direct investments.
03:27 According to Senator Stanley Angara, they cannot say how much deliberation they will do.
03:33 But they are expecting it to be completed by October, at the same time of the filing of the election.
03:37 Because it will be passed to the Philippines if the Charter Change continues.
03:42 And it is better if it is completed at the same time as the 2025 elections.
03:46 Daniel Manalastas for Pambansang TV in Bagong, Philippines.
03:50 [BLANK_AUDIO]