Dela Rosa to amend Foreign Investment Act if he becomes president

Published October 20, 2021, 9:51 AM

by Hannah Torregoza 

Presidential aspirant Senator Ronald “Bato” Dela Rosa said he will pursue amendments to the Foreign Investment Act if he gets elected as president.

In a televised interview, Dela Rosa said that part of economic programs would be to allow more foreign investors to invest in micro, small and medium enterprises or MSMEs, as well as to allow them to practice their profession and expertise here in the Philippines.

The presidential candidate of the Partido ng Demokratikong Pilipino-Laban (PDP-Laban) faction led by Energy Secretary Alfonso Cusi said this is also part of his COVID-19 economic recovery program.

“Lahat naman tayo nagkaproblema dito sa COVID, ‘di ba? Lahat naman, hindi naman tayo lang sa Pilipinas, buong mundo nagkaproblema sa COVID. Pero kahit papaano, hahanap tayo ng paraan na para makaka-recover tayo (All countries experienced the COVID-19 problem, right? Everyone, not only the Philippines, the whole country experienced COVID problem. So we will look for ways to recover),” Dela Rosa said in an ANC interview.

“At ‘yun nga, given the chance to become the president, meron akong mga maliliit-liit na economic policy reforms na gustong i-introduce, (I want to introduce some economic policy reforms) pati political policy reforms,” he said.

“Isasama ko sa aking legislative agenda ‘yung pag-amend ng Foreign Investment Act wherein papayagan natin ‘yung mga foreign investors to invest in MSMEs, ‘yung mga Micro, Small and Medium Enterprises…kung papasok diyan ang foreign investment, lalakas ‘yan (I will include in my legislative agenda to amend the Foreign Investment Act wherein we will allow foreign investors to invest in MSMEs…if foreign investments comes in, it will strengthen the economy),” he added.

“At number two, dapat i-allow natin ‘yung (we should allow) foreigners to practice their profession here in the Philippines para magkakaroon ng (so there could be) transfer of technology and magkakaroon ng (and promote) fair competition at mag-i-improve ‘yung ating (and improve the) quality of profession ng ating mga (of our) locals,” he said further.

While the bill seeking to amend the Foreign Investments Act that has been approved in the Senate already allows foreigners to invest a hundred percent in SMEs, it remains pending in the legislative mill.

“Sana nga maging batas ‘yan. Para kung hindi ‘yan makalusot ngayon dito sa Congress na ito, still, pag maging pangulo ako, (I really hope it becomes a law. If it fails to be passed during this Congress, still, if I become president), I will push for the enactment of the bill into law,” Dela Rosa said.

The former Philippine National Police (PNP) chief also said that while he would push for a “slight” amendment of the Constitution, saying he is keen on relaxing only the restrictive economic provisions.

Dela Rosa also insisted he did not come unprepared with any plans for the country when he was called by his partymates to file his certificate of candidacy (COC) during the deadline of the filing last October 8.