Constitutional reforms pushed

OPENING THE economy to foreign investments through constitutional reforms would yield better Internet services, improve investment schemes in telecommunications, and enable the transfer of technology and management skills to Filipinos.

According to Benjamin Azada, Chief Strategy Officer of Converge ICT Solutions Inc., said opening the telecommunications sector to foreign investors would give further access to advance technology and create more competition on digital infrastructures.

 

“Opening up to foreign direct investments will unlock the digital infrastructure in the Philippines as well as upgrade technical and management skills of Filipinos and bring in training and technology transfer especially in businesses,” Azada said during a virtual forum on the importance of constitutional reforms in the economy to boost telecommunications.

 

The event was sponsored by the Department of the Interior and Local Government.

 

Azada said economic liberalization would enhance export growth and increase employment essential to the country’s rapid economic growth and competitiveness. He said ASEAN data level per sector showed the Philippines has the most restrictive and the most number of sectors identified by the Organization for Economic Co-operation and Development (OECD). “Such entrenched barriers to FDI (foreign direct investments) prevent us from realizing higher economic growth, more competition, hinders technology transfer, job generation, and of course, consumer choice,” he said.

 

Iloilo Rep. Lorenz Defensor, Vice-Chairman of the House Committee on Constitutional Amendments, said: “Given the bicameral nature of our Congress, we have to respect that the Senate also has the obligation to act on the proposed amendments before it can be submitted to the Filipinos by way of a plebiscite.”

 

For his part, Gary Olivar, a resource person of the CORE Movement and Director of the Center for Strategy, Enterprise, and Intelligence, said he was optimistic that Resolution of Both Houses No. 2 would be discussed and passed by the Senators in no time.

 

“We have no option to fail. I tend to be more optimistic that we can gather and lobby votes from the Senate especially with the help of our Congressmen,” Olivar said.

 

The Resolution of Both Houses No. 2 authored by Speaker Lord Allan Velasco was approved on the third and final reading last month and now pending in the Senate for approval.

 

The measure seeks to include the phrase “unless otherwise provided by law” to empower Congress to pass laws lifting current restrictions on foreign investors of public utilities, educational institutions, media, and advertising companies. (Malou Cablinda and Rhoderick Benez contributed to this report.)

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