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Economic reforms sought in Constitution review, Marcos says

Philippines | National

Economic reforms sought in Constitution review, Marcos says

By Betheena Unite

President Marcos said the government is looking to revisit the economic provisions of the 1987 Constitution and other laws to make the Philippines more investment-friendly.

BBM Q4.jpg — President Ferdinand 'Bongbong' Marcos Jr. (Ali Vicoy)

In a media interview, Marcos pointed out that the existing economic provisions are hindering potential investors from proceeding with their operations in the country.

“We’re just beginning to study because we keep talking about economic provisions that are getting in the way with some of the potential investors that we are trying to bring to the Philippines,” Marcos said on the sidelines of the inauguration of the Poblacion Water Treatment Plant in Muntinlupa City on Friday, Dec. 15.

Marcos explained that the study aims to evaluate ways to further boost investments.

“What we are looking at here is the opportunity cost of those who would like to invest here but somehow the laws that derived from the Constitution when it comes to the economic provisions do not allow them to or make it non-viable for them,” he said.

The President stressed that the study is not really about constitutional reform but about what "we need to change" to attract potential investors.

“My primary interest is to try and make our country an investment-friendly place,” he said.

“That's why the study is really not about the Constitution. It’s about what do we need to do —what do we need to change so that these potential investors will in fact come to the Philippines," he added.

House Speaker Martin Romualdez on Monday said the House of Representatives will make another pitch to amend the 1987 Constitution next year, focusing on its economic provisions

Related Tags

PH economy economic reforms 1987 Constitution President Marcos

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