CitizenWatch: Who’s afraid of amending economic provisions?

MANILA, Philippines - Consumer advocate CitizenWatch.PH expressed strong support for the approval of Resolution of Both Houses No. 1 – Amending Economic Provisions of the Constitution.

RBH No. 1, authored by Speaker Feliciano Belmonte Jr., seeks to amend Articles XII (national economy and patrimony), XIV (education, science and technology, arts, culture and sports) and XVI (general provisions).

The amendments would include the phrase “unless otherwise provided by law” to certain sections to allow Congress to pass legislation that would ease restrictions on foreign ownership in certain industries to attract investments and generate jobs.

Wilford Wong, CitizenWatch secretary general, said that liberalizing the Philippine market will create much needed employment opportunities both in the urban and rural communities, while more competition will foster better services and competitive prices to the benefit of Filipino consumers.

In a statement, CitizenWatch said that removing these policy roadblocks will send a strong and clear signal that the Philippines is ready to compete for more employment-generating foreign investments for its talented Filipino labor force.

“We must wake up to the global reality that only with a more open business environment can we graduate from what is now called a jobless growth to a more inclusive and sustainable economy,” it said.

“We need to create a freer market environment that attracts the best of the world by instituting bold policy reforms that level the playing field of opportunity while protecting consumer rights and industrial discipline.”

The group said the move to liberalize the economic provisions of the Constitution “is long overdue” and those who fear change “are the well-entrenched rent-seeking and monopolistic families.”

The old guard stand the risk “of losing their sub-standard and oppressive operations to new players who will only need to offer Filipinos a bigger bang for their buck. They have suppressed our prosperity long enough. We need to stop them now,” CitizenWatch said.