Photo Release

February 5, 2024

Cha-Cha not a solution: Deputy Minority Leader Risa Hontiveros maintains her apprehension in amending the 1987 Constitution, which she believes, is not the solution in attracting foreign direct investments. During the Constitutional Amendments and Revision of Codes subcommittee's hearing Monday, February 5, 2024, Hontiveros said that contrary to what others have been saying about the so-called “restrictive provisions” allegedly enshrined in the Constitution, “our country is open to foreign investments.” She said numerous legislations were introduced that have already liberalized various sectors such as amendments to the Foreign Bank Liberalization Act, the Retail Trade Liberalization Act, the Public Service Act, and the Foreign Investments Act. “So much of the Philippine economy is already open to foreign participation,” the deputy minority leader said. “Let's not turn the Constitution, the very soul of the country, into collateral damage. We, the Filipino people, will determine our destiny, not just the ambition of a few," Hontiveros added. (Bibo Nueva España/Senate PRIB)

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