The prime mover of Charter change (Cha-cha) in the current 19th Congress welcomed on Friday, March 10 a report by financial information firm Fitch Solutions that supposedly highlighted the need for the Philippines to undergo constitutional revision.
Cagayan de Oro City 2nd district Rep. Rufus Rodriguez, in a statement, said: “The Fitch assessment supports our initiative to rewrite the restrictive provisions of the Constitution to enable the country to entice more foreign investors."
“More investments will translate to more job and income opportunities for our people. Additional foreign capital will allow the country to sustain its economic growth,” added the veteran solon, who chairs the House Committee on Constitutional Amendments.
Rodriguez urged the Senate to read the Fitch Solutions report.
The House of Representatives has overwhelmingly voted to approve Resolution of Both Houses (RBH) No. 6, which calls on Congress to convene a constitutional convention (con-con) to propose amendments to the 1987 Charter.
House Speaker Martin Romualdez led 301 of the 314 House members in signing the resolution. Romualdez, Leyte’s 1st district representative, is also a Cha-cha proponent; but he has made it clear--like Rodriguez--that the amendments should be on the restrictive economic provisions of the Constitution.
The larger chamber also recently approved on second reading House Bill (HB) No.7352, which is the companion implementing bill.
Both the resolution and the bill will shortly be sent to the Senate.
Romualdez has said the rewriting of such provisions could be the “final piece in the puzzle” of improving the country’s investment and economic environment.