Economic Charter change

Millions of Filipinos still poor despite foreign investments

March 23, 2023

Some politicians claim that more FDI after charter change will reduce poverty. However, poverty has stayed high over the years of increasing FDI.

Unemployment worsened even with more foreign investment

March 23, 2023

Proponents of charter change insist that more FDI from changing the Constitution’s economic provisions will create job opportunities and decrease unemployment. Has unemployment decreased as FDI increased?

Job creation weakened despite rapid FDI growth

March 23, 2023

One of the key arguments of charter change proponents is that liberalizing the economy to FDI will create more jobs. But job creation has actually weakened even as foreign direct investment inflows increased.

Trade deficit worsened as FDI increased

March 23, 2023

In the absence of Filipino industrialization, FDI dominates domestic manufacturing. Foreign manufacturers and foreign investors in general have very low local content and their import-intensive operations are fueling the country’s trade deficit. This has widened over the years reaching a record US$43.5 billion in 2018.

Agriculture weakened despite capital inflows in sector

March 23, 2023

Charter change advocates in Congress claim changing the constitution to favor foreign direct investment (FDI) will develop the economy. Yet while foreign capital poured into the agriculture, forestry and fisheries sector over the years, its share in the economy has plunged.