On changing the economic provisions of the 1987 Constitution: More foreign investment does not mean more development
January 26, 2023
As the House Committee on Constitutional Amendments considers proposed amendments, IBON raises five major points on why economic provisions in the 1987 Constitution should be retained.
February 3, 2022
Congress recently ratified the bicameral version of the bill amending the Public Service Act and opening up domestic sectors to 100% ownership by foreign capital. This includes telecommunications, shipping, airports, airlines, railways, subways, expressways and tollways. Passing this proposed law will be one-step-forwards-two-steps-backwards for the country.
February 5, 2021
January 13, 2021
The economy’s development lies in using the protections in the Constitution to gain from foreign investment, not in taking away the protections and giving self-interested foreign investment free rein over the domestic economy.
January 12, 2021
Pursuing economic Cha-cha in the middle of a public health crisis and unprecedented economic decline smacks of putting vested interests first over squarely addressing the urgent need to create and save jobs, incomes and small businesses.
Opening Statement for the House Committee on Constitutional Amendments on the Proposed Amendments to the 1987 Constitution
February 13, 2020
The current global context of growing protectionism, a turnaround from investment liberalization, and eroding multilateralism make relaxing foreign equity restrictions even more inappropriate
May 23, 2019
#MalalangEkonomiya #MayMagagawa #PeopleEconomics #BeyondElections2019
May 19, 2019
Research group IBON is challenging the succeeding Senate to prove its independence by rejecting the proposal to amend the 1987 Philippine Constitution or Charter change (Cha-cha). Lawmakers should keep in mind the dangers that Cha-cha poses on Philippine economic sovereignty, said the group, and not be swayed into passing other laws that fulfill the consistent […]
January 10, 2019