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The shorter the lawmakers' debates on Charter change (Cha-cha), the better for the confidence of investors who plan to take a chance on the Philippines. 

Thus, said economist-solon Albay 2nd district Rep. Joey Salceda, even as he agreed with National and Economic Development Authority (NEDA) Secretary Arsenio Balisacan’s statementt that the faster the legislature can complete the Cha-cha process, the better it will be for the economy. 

“I agree [with Balisacan]. Investor certainty is a function of legislative speed. The shorter the debates take, the more certain investors become,” said Salceda, chairman of the House Committee on Ways and Means. 

“But in the House framework – there is no investor uncertainty. If anything, there is cause for investor optimism," he reckoned. 

During a Malacañang press briefing, economic planning chief Balisacan said that he hopes Congress “can agree very soon because we don’t also want those uncertainty". Congress refers to the House of Representatives and the Senate, which are currently at odds on the issue of constitutional revision. 

According to Balisacan, "One of the factors that inhibit investments whether it’s domestic or foreign is state of uncertainty. So, we hope that our leaders will come to a common position quickly so that we can move on.” 

The 300-member House has been pursuing the lifting of the restrictive economic provisions of the 1987 Constitution. The 24-member Senate, on the other hand, appear to be more concerned with the checks and balances pertaining to how Cha-cha will be carried out. 

Salceda says the House’s principles on Cha-cha will reassure investors even more. “There will be no investor uncertainty under the House’s proposals.” 

“We commit to expanding, never restricting, the scope of the economy that is open to foreign investment. So, there is zero chance of an existing area of investment being suddenly closed off,” he said. 

"We commit to making investing in the Philippines easier, not harder. So, we will impose no new regulatory restrictions on areas that are already open," added Salceda. 

Furthermore, he said the House commits to expanding access to existing areas of investment that have some restrictions. "Existing limits in the Constitution will now be subject to an enabling law under our proposal.”