Cagayan de Oro City 2nd district Rufus Rodriguez (Facebook)

Once the proposed economic amendments to the 1987 Constitution are ratified into law, Congress would gain the power to exclude China and other perceived “risky” foreign investors.

Cagayan de Oro City 2nd district Rep. Rufus Rodriguez had this to say after members of the Makabayan bloc expressed concern that China might one day seize control of the country’s electricity generation and transmission sectors.

“Congress can craft a law to make sure that risky countries or investments with implications on our national interest and security can be checked and barred from coming in,” Rodriguez said on Wednesday, March 13.

At present, China controls 40 percent of the National Grid Corp. of the Philippines (NGCP)--the country’s power grid operator.

The House of Representatives’ pro-Charter change (Cha-cha) measure, Resolution of Both Houses (RBH) No. 7, intends to include the phrase “unless otherwise provided by law” in the Constitution’s restrictive economic provisions.

Rodriguez explained that with this phrase, Congress will possess the power to change the foreign investment limitations.

He says this does not indicate that all foreign capital would be allowed into the country, since a “screening process” can be included in the enabling law.

Such screening mechanism would prevent countries that have a conflict with the Philippines to come in with their investments.

“I can mention one, and that is China, with which we have a dispute over the West Philippine Sea,” he noted.

The veteran lawmaker pointed out that the Philippines can follow the lead of the United States (US) and the United Kingdom (UK), which have similar legislation that monitors and screens foreign capital.

“Their obvious targets were Russia and China, with which they are in conflict,” he said.

The House of Representatives approved on second reading RBH No. 7 on Wednesday night. By next week, it is expected that the chamber will approve the Cha-cha bill on third and final reading.