SENATOR Grace Poe says the Philippines has made strides in opening up the local economy.
As the Constitutional Reforms and Amendment of Codes subcommittee resumed discussions on Resolution of Both Houses No. 6 on Monday February 12, 2024, Poe maintained that the country is already “open for business” through Republic Act No. 11659, or the amended Public Service Act (PSA) and other existing laws allowing foreign investments into the country.
Having shepherded the amended PSA in the Senate during the 18th Congress, the Committee on Public Services chairperson said the PSA addresses the objectives of the proposed amendments to the 1987 Constitution’s economic provisions without having to tweak the country’s charter while protecting the Filipino interest and national security.
“We have opened up our economy. We have done so without violating or amending the Constitution. We didn’t need to convene a Constitutional Commission, Constitutional Assembly, or a fake People’s Initiative,” Poe said . Joseph B. Vidal
