Business groups warn con-con to put off investors, yield high costs

  • 📰 CNN Philippines
  • ⏱ Reading Time:
  • 27 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 14%
  • Publisher: 63%

United States News News

United States United States Latest News,United States United States Headlines

Business groups on Friday urged Congress to reconsider the proposed constitutional convention to amend the 1987 Constitution, saying it would cost too much and could spook investors.

"We respectfully urge the Senate — and the House, if and when the deliberations progress — to consider these and other points raised by our colleagues in various sectors as you decide on this potentially disruptive proposal at a time when the country may be poised to regain its economic momentum," read the joint statement of Filipina CEO Circle, Financial Executives Institute of the Philippines, Justice Reform Initiative, Makati Business Club, Philippine Women's Economic Network,...

"However, recently enacted laws and regulations like amendments to the Public Service Act, Retail Trade Liberalization Act, the Foreign Investment Act, the passage of the Rice Trade Liberalization Act 1 and the Department of Energy circular allowing 100% foreign ownership in the renewable energy sector 2 have addressed many of these impediments," they argued.

They also said funds set for the constitutional convention are better spent on pro-people programs in agriculture, transportation, and social services.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Absolutely no one but some in congress loyal to dutetre want it. Why ask the public to fund a dead-end project.

Kung hindi ba mga hangal itong mga mambabatas, inuna pa nilang magpanukala ng perang tatanggapin nila kada araw sa pag-rebisa ng saligang batas. Kung tunay ang kanilang adhikain sa pagbabago, sana ibigay nila ang kanilang oras ng walang kabayaran. Mga hinayupak ito.

Economic Change does not require Charter Change. Econ-Cha not Cha-Cha.

ayaw ng mga oligarchs ng competition haha

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 13. in US

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

‘Do what you do best,’ Marcos exhorts Chinese-Filipino business groupA day after he effectively rejected Beijing’s warning on the country’s security and disaster relief agreement with the US, President Ferdinand Marcos Jr. lauded Chinese-Filipino businessmen and exhorted them to continue helping in PH economic development. Ta2g loko² inkwaylel Pinoy tsaynis yan kayo hindi alam difference kayo tanga, kayo kain ta3 💩 nothing but a
Source: inquirerdotnet - 🏆 3. / 86 Read more »