MANILA, Philippines _There is no constitutional problem in allowing 100-percent foreign ownership in certain industries in the country, but there should be “reciprocity clauses” when amending economic provisions that limit foreign ownership in those sectors, two former justices said during the House of Representatives hearing on Resolution of Both Houses No. 7, which seeks to ease foreign ownership limits in public utilities, educational institutions, and advertising. Azcuna noted that the framers of the 1987 Constitution intended its economic provisions, particularly the three being considered for amendment through RBH 7, to be in effect only for five years and not for nearly fourwq decades. But we did not have any amendment, even on the economic provisions for 37 years,” he added. Still, the former associate justice appointed by former President Benigno Aquino III was not too keen on Charter change.

Source: Philippine Daily Inquirer February 28, 2024 21:32 UTC