Amendment of the economic provisions in the Constitution will put an end to “dummying” that many foreign corporations resort to in order to do business in the country.Cavite Rep. Elpidio Barzaga Jr. said the administration’s renewed push to amend the restrictive economic provisions of the charter is well justified based on what is happening on the ground.
According to Barzaga some mass media companies are able to operate in the country “and they are just using dummies, in direct violation of our laws.” The 1987 Constitution limits foreign ownership of land and businesses to only 40 percent and sets aside the other 60 percent exclusively for Filipino citizens or corporations, a provision which Barzaga pointed out is almost 100 years old since it was lifted from the 1935 Constitution.
The measure seeks to amend Sections 2, 3, 7, 10 and 11 of Article XII , Section 4 of Article XIV and Section 11 of Article XVI to add the phrase “unless otherwise provided by law.”
Yun naman pala, pwede parin palang gawan ng paraan pero at least on paper, hinding hindi pwede maging 100% pagmamayari ng dayuhan ang kakarampot na lupain ng pinas. So bakit pa babaguhin!?
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