Romualdez eager to rid Charter of foreign investment restrictions

House Speaker Martin Romualdez stressed that the House of Representatives will pursue another economic development advocacy, which is the removal of restrictions on foreign investments in the Constitution.

“We recognize the need for more dynamic economic policies. Thus, we are advocating for amendments to specific sections of Articles twelve, fourteen, and sixteen of the Philippine Constitution,” he said in a forum.

Romualdez said the proposed changes aim to introduce the phrase “unless otherwise provided by law” to give Congress the ability to make legislative adjustments swiftly in specific economic sectors in response to global and local economic shifts.

“Our extensive hearings on this matter have illuminated the broad benefits these amendments would bring, enabling more flexible, responsive governance. By enabling these adjustments, we can significantly enhance the Philippines’ stature as an attractive destination for investments. More investments mean more resources, which support sustained economic growth,” he said.

He added that the changes, if effected, would “also translate into more job opportunities, helping ensure that Filipino families can thrive in an increasingly competitive world.”