MANILA, Philippines — The House of Representatives is hoping to finish the debates on charter change (Cha-cha) before the end of 2021.
Speaker Lord Allan Velasco on Sunday assured that debates on the proposed amendments to the 1987 Constitution, which is pushed on the Resolution of Both Houses No. 2 (RBH 2) that he filed, will be transparent and fair.
“We hope to finish the debates before the end of 2021 and present it to the public for ratification alongside the election of new leaders in the 2022 national elections. Until then, we assure the public that the debates on RBH 2 will be transparent and fair,” he said in a statement.
The House will open debates on Cha-cha on Jan. 13.
Velasco said RBH 2 wants to “liberalize the restrictive economic provisions in the Constitution,” which he said is preventing the Philippines “from becoming fully competitive with our Asian neighbors.
The resolution seeks to amend Sections 2, 3, 7, 10 and 11 of Article XII (National Patrimony and Economy), Section 4 of Article XIV (Education, Science and Technology, Arts, Culture and Sports) and Section 11 of Article XVI (General Provisions) to add the phrase “unless otherwise provided by law.”
This addition of the phrase, Velasco said, will enable Congress to enact laws to “free up the economy to foreign investors, or maintain the status quo.”
“Foreign investment plays a crucial role in the Philippine economy by supporting domestic jobs and the creation of physical and knowledge capital across a range of industries. The need to attract foreign capital is critical to support our economy’s recovery from COVID-19,” he said.
Velasco filed the resolution in July 2019.