By Jelly F. Musico
MANILA, June 10 (PNA) — Senator Paolo Benigno Aquino IV on Tuesday said the Philippines can entice more foreign investors even without changing the Constitution.
”To be frank, I don’t think we need to change the Constitution. We can actually get the investments even without changing the Constitution,” Aquino said in a media forum at the Diamond hotel.
Aquino said pushing charter change with only two years left before the 2016 elections “is too large an endeavor to do.”
”That will probably mean the next president will be the one tackling changes to the Constitution,” Aquino said.
He said the House of Representative is adamant about the cha-cha move, “there’s really not much movement in terms of any constitutional changes” in the Senate.
Instead of entertaining the charter change proposal, Aquino said “we really have to do the reforms that can be done currently within our constitution.”
”Get the investments in. In other countries, they have even stricter but they were able to get the investments,” Aquino said.
”It’s a matter of balancing your incentives, the investments you want to get in the country in the next two to three years,” he added.
Last March, the House committee on constitutional amendments approved a charter change resolution filed by House Speaker Sonny Belmonte.
The House proposal aims to amend the protectionist provisions and foreign participation limits in the Constitution.
In the Senate, Aquino said focus should be put on the economic measures that would create jobs and encourage people to go into business.
”If you look at our portfolio and the things that we have pushed for, our Microfinance bill, our Go Negosyo bill, our Youth Entrepreneurship bill, all we have been pushing, it all leads to that,” Aquino said.
”To try to have a stronger economy here that is more equitable, recognizing our growth and at the same time, making sure this growth reaches the poorest Filipinos,” he added.
Aquino recognized also the contribution of overseas Filipino workers’ remittances and the business process outsourcing (BPO) industry to the Philippine economy. (PNA)