Amid moves in Congress to change the current Constitution, Deputy Speaker and Pampanga 3rd District Rep. Aurelio Gonzales Jr. has proposed that 40 percent foreign ownership be allowed in mass media for its improvement.
**media**
In a statement, the lawmaker shared several of the amendments he submitted via a memorandum to the House Committee on Constitutional Amendments, which is chaired by Cagayan de Oro City 2nd District Rep. Rufus Rodriguez.
Chief among these proposals is enabling foreign investments in mass media, which is currently limited to Filipino ownership.
Gonzales seeks to amend Section 11 of Article XVI on mass media to state: “The ownership of mass media shall be limited to citizens of the Philippines, or to corporations, cooperatives, associations, and entities organized under the laws of the Philippines at least sixty per centum of whose capital is owned by such citizens, provided that its management shall be exclusive only to citizens of the Philippines.”
He explained that his proposed amendment “means that mass media will remain to be majority-owned and controlled and run exclusively by Filipinos, with foreign ownership to be limited to 40 percent.”
Currently, Section 11 provides: “The ownership and management of mass media shall be limited to citizens of the Philippines, or to corporations, cooperatives or associations, wholly-owned and managed by such citizens.”
His proposal would also pave the way for sale of Philippine Depositary Receipts (PDRs) to foreigners by certain mass media companies, which was already discussed in past House hearings.
“PDRs are investment instruments which earn interest and can be sold for profit. Through PDRs, foreign nationals may directly own shares in mass media corporations, which is not in accordance with the present Constitution,” his statement read.
“This proposed amendment will improve and aid mass media networks, as foreign nationals would be openly welcome to invest directly in mass media corporations instead of going around the law through the use of PDRs,” Gonzales added.
The lawmaker also proposed to allow foreigners and foreign corporations, associations and entities to own land not exceeding five hectares as long as they use it for manufacturing or trading activities.
Another proposal would give Congress the power to relax the present 40 percent foreign participation limit on the exploitation of the country’s natural resources by inserting the phrase, “or as may be provided by law” in Section 2 of Article XII.
He also wants Congress to create more autonomous regions, citing the success of the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM), the second fastest growing region in the country with 7.5 percent economic growth.
Gonzales said BARMM’s development shows that “additional autonomous regions could be created as this could be of great help in the country’s economic expansion.”
This would require an amendment to Section 15 of Article X on Local Government, which provides that autonomous regions be established in Muslim Mindanao and the Cordilleras.