Trade leaders split on timing of Cha-Cha

CEBU, Philippines - Cebu’s business leaders are split on whether or not it is the right time to pursue amendments to the economic provisions of the Constitution after the statement of President Benigno Aquino III that it might delay the economic progress in the Philippines.

Filipino-Cebuano Business Club Inc. President Rey Calooy agrees with the view of Aquino that such amendments may hamper the focus on more immediate economic reforms.

“We are top five world’s best economic performer. For as long as we ensure that we are business-friendly, easy in doing business and without corruption, this country could move forward economically even without changing our Constitution,” he told The FREEMAN.

To further boost the economy and attract more investors, he also noted that new business applications must be processed in one day like in Singapore and in other countries.

On the other hand, Cebu Chamber of Commerce and Industry President Prudencio Gesta said that the amendments to the Constitution focuses more on economic provisions that may accelerate the economic growth of the country.

He added that it may be the appropriate time to review such provisions to improve the national business environment and encourage more investments.

“With this very good intention, it may be appropriate to look into these provisions to determine if there’s really the need for cha-cha this time,” Gesta said.

Whether revisions will push through or not, Mandaue Chamber of Commerce and Industry former president Eric Mendoza said that economic progress can still be achieved through reforms in good governance.

“It’s either way you think about. Both can attain economic progress for as long as policies are predictable,” he said.

In earlier reports, Aquino expressed his opposition to the modification of certain economic provisions in the 1987 Constitution.

He further noted that the Philippine economy has been displaying good performance despite the current global economic slowdown.

He cited as evidence the 6.4 percent economic growth of the country in the first quarter of 2012 despite the meltdown suffered by the United States and Europe.

“Even with the present Constitution, I think we are capable of reaching the economic heights that we want. Why don’t we look at the evidence? We grew by 6.4 percent when almost the rest of the world was on an economic slowdown,” Aquino said.

He said in the spirit of democracy, he is still willing to listen to Senate President Juan Ponce Enrile and Speaker Feliciano Belmonte Jr. who are known to be the forerunners of the Charter amendments on economic provisions.  (FREEMAN)