Consumer advocate CitizenWatch.ph has expressed strong support for the approval of Resolution of Both Houses (RBH) 1, which proposes to amend the economic provisions of the Constitution.
RBH 1, authored by House Speaker Feliciano R. 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 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 news statement, CitizenWatch stated 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.”
“We need to create a freer market environment that attracts the best of the world by instituting bold policy reforms that levels the playing field of opportunity while protecting consumer rights and industrial discipline. The move to liberalize the economic provisions of the Constitution is long overdue. Those who are afraid of this change are the well-entrenched rent-seeking and monopolistic families who 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.