THE Senate has initiated hearings on resolution of both houses number 6 that pushes for an economic Charter Change.
Don’t expect an economic miracle once amendments to the Constitutions’ economic provisions pass, warns Senator Sonny Angara, Chairman of the Senate Subcommittee on Constitutional Amendments and Revision of Codes.
“Cha-Cha doesn’t guarantee an economic boost. By all means, let’s explore the possibilities, but it’s not a miracle that investors will come knocking right after amending the Constitution,” according to Sen. Juan Edgardo “Sonny” Angara, Chair, Subcommittee on Constitutional Amendments and Revision of Codes.
The senator highlighted common hurdles for foreign investors, including business costs, red tape, infrastructure quality, and more.
The Senate hearing focuses on proposed amendments to certain economic provisions of the Constitution, considered overly restrictive by Charter Change (Cha-Cha) proponents, hindering the opening of the economy to more foreign investments.
Senate won’t adhere to House deadline on RBH6
Related to this, the Senate will not succumb to the House-set deadline for RBH6.
Senate President Juan Miguel “Migz” Zubiri emphasized the Senate’s careful examination of proposed amendments to the 1987 Constitution.
“We will not fall into a trap on any deadline because discussing such an important matter needs time,” according to Sen. Juan Miguel “Migz” Zubiri.
Zubiri insisted on a thorough study, emphasizing the impossibility of rushing such a significant decision.
Zubiri previously mentioned President Ferdinand R. Marcos, Jr.’ directive to pass RBH#6 and urged the House to adopt the Senate’s version.