Amid weakening economic sentiment, fueled by corruption issues, a political economist has floated the prospect of constitutional reform to end protectionist clauses that heavily favor Filipino ownership and goods. Calixto Chikiamco, president of think tank Foundation for Economic Freedom (FEF),...
Removing the foreign investment restrictions in the 1987 Constitution will prevent future judicial and regulatory challenges and will reduce uncertainty among multinational companies, a former finance secretary said. Margarito B. Teves, a finance secretary under former president Gloria Macapagal...
Cagayan de Oro City 2nd district Rep. Rufus Rodriguez (Facebook) Cagayan de Oro City 2nd district Rep. Rufus Rodriguez commended the Foundation for Economic Freedom (FEF) for supporting Congress' proposed amendments to the economic provisions...
The Foundation for Economic Freedom (FEF), founded by former finance secretaries, reinforced its stand that amending economic provisions on the 1987 Constitution shall not hinder the fight against corruption. In a statement on Wednesday, April 17, the policy advocay group noted that the removal of...
Advocates for the Philippine economy on Thursday, Jan. 4, called on the government to remove restrictive economic provisions on full foreign ownership in the Constitution. Foundation for Economic Freedom Inc., a group composed of former finance secretaries and businessmen, said in a statement that...
Various business and think tank groups have strongly opposed the planned Maharlika Wealth Fund (MWF), a Philippine government version of a Sovereign Wealth Fund (SWF), stating the proposal under House Bill 6398 will not amount to wealth creation but instead puts at risk peoples’ pension money in...
Importers are batting for the extension of Executive Order 171 to counter the continuing adverse impact of the Russia-Ukraine war on consumer prices, but local producers strongly opposed the petition stressing the reduced import tariff did not benefit consumers and it is time to protect local...
The country’s largest business groups have strongly opposed moves to maintain the telecommunications industry as a public utility or subject it to minority foreign ownership as they cited interest from SpaceX, Japan's KDDI and Kobashi groups to enter the country that could provide competition in...
Foreign and local business groups in the country have urged the passage of 17 priority bills by the 18th Congress during its third and final session year that will commence on July 26. The letter sent to President Rodrigo Duterte was signed by 15 business groups, including eight Philippine...
Business groups have thrown support for the private schools which have been hard-hit by the economic impact of the COVID-19 pandemic and are now facing a 150-percent increase in income tax rate. At the recent virtual forum hosted by think tank Stratbase Albert del Rosario Institute, a coordinating...
Meat prices continued to rise despite the recent 150 percent surge in pork import volume, casting doubt on the government’s recent move to bring down tariffs on imported pork. A customer pays for pork at a roadside market stall in Mandaluyong City, Manila, the Philippines. (Bloomberg file) “The...
Local businesses are strongly supporting initiatives to reopen further the Philippine economy, which has suffered from long lockdowns and quarantines due to COVID-19. “We, the undersigned, express our strong support for the initiatives of the Duterte administration to open the Philippine economy...
