Publish to Newswire
Add an EventFrom the Open-Publishing Calendar
From the Open-Publishing Newswire
Indybay Feature
Philippines: Charter change and foreign ownership of land not solution to development
As plenary debates on House Joint Congressional Resolution No. 1, amending the economic provisions of the 1986 Constitution, began today, Akbayan Rep. Walden Bello challenged proponents of the resolution to admit that foreign ownership of land is among the main objectives of the proposal.
"We cannot ignore the fact that foreign ownership of land is central to the proposal," Bello said.
"Foreign businesses' ownership and control of land and natural resources in the Philippines will certainly compromise ordinary Filipino people, in the guise of economic development," Bello added.
Bello further pointed out that China, Indonesia and Vietnam, countries that proponents of the resolution mentioned to make the case for doing away with constitutional economic restrictions, in fact have strict restrictions on foreign companies and ban on foreign ownership.
"As shown in the case of China, Indonesia and Vietnam, a constitutional ban on foreign ownership is not a hindrance to dynamic economic development," Bello pointed out.
"It is very important for land to be owned by the Filipino people. This is precisely why we are extra vigilant, we want to ensure that constitutional provisions protecting the right of the people over our resources are not watered down," Bello added.
House must exercise prudence, postpone Charter Change
Bello also warned against the effects of charter change on further weakening, if not obliterating, small and medium scale enterprises, and the effective control of foreign enterprises over important sectors of the economy including electricity, banking, and communication.
"This resolution will make it difficult for small and medium scale enterprises to survive the onslaught of unfettered foreign competition," Bello pointed out.
Bello also made an example of Meralco's anti-consumer behavior as a preview to the behavior of foreign companies should they be given the free hand to control crucial economic sectors.
"It is now common knowledge that Meralco is powered by funds from the Salim group in Indonesia, as managed by Manny Pangilinan. Already, it acts with clear disregard of consumers welfare, with their successive rate hikes and questionable business practices," Bello said.
"Opening up the banking sector to greater foreign control will likewise open our economy to the shocks of the global market. In fact, the only reason why the 2008 financial crisis did not devastate the Philippine economy was because our banking sector was insulated from hot money flows by our laws,” Bello added
According to Bello, the more prudent strategy with respect to economic development should focus on the creation of a strong competition law, easing regulatory bottlenecks in the bureaucratic process, improvements in infrastructure and efforts to reduce poverty, exactly the same priorities of the Aquino administration.
"It is not prudent for Congress to jump right into Charter Change. What we need, and congress is already in the process of fulfilling it, is a strong competition law that will ensure competition and may regulate behavior of foreign firms. We must focus our energies on this before even considering options to amend the constitution," Bello said.
“Changing the constitution is not the solution. Our focus should be on ensuring the rights of the Filipino people over our resources, and on economic policies that will not compromise our fledgling industries, promote competition and ensure the welfare of ordinary Filipino consumers,” Bello concluded.
https://akbayan.org.ph
"Foreign businesses' ownership and control of land and natural resources in the Philippines will certainly compromise ordinary Filipino people, in the guise of economic development," Bello added.
Bello further pointed out that China, Indonesia and Vietnam, countries that proponents of the resolution mentioned to make the case for doing away with constitutional economic restrictions, in fact have strict restrictions on foreign companies and ban on foreign ownership.
"As shown in the case of China, Indonesia and Vietnam, a constitutional ban on foreign ownership is not a hindrance to dynamic economic development," Bello pointed out.
"It is very important for land to be owned by the Filipino people. This is precisely why we are extra vigilant, we want to ensure that constitutional provisions protecting the right of the people over our resources are not watered down," Bello added.
House must exercise prudence, postpone Charter Change
Bello also warned against the effects of charter change on further weakening, if not obliterating, small and medium scale enterprises, and the effective control of foreign enterprises over important sectors of the economy including electricity, banking, and communication.
"This resolution will make it difficult for small and medium scale enterprises to survive the onslaught of unfettered foreign competition," Bello pointed out.
Bello also made an example of Meralco's anti-consumer behavior as a preview to the behavior of foreign companies should they be given the free hand to control crucial economic sectors.
"It is now common knowledge that Meralco is powered by funds from the Salim group in Indonesia, as managed by Manny Pangilinan. Already, it acts with clear disregard of consumers welfare, with their successive rate hikes and questionable business practices," Bello said.
"Opening up the banking sector to greater foreign control will likewise open our economy to the shocks of the global market. In fact, the only reason why the 2008 financial crisis did not devastate the Philippine economy was because our banking sector was insulated from hot money flows by our laws,” Bello added
According to Bello, the more prudent strategy with respect to economic development should focus on the creation of a strong competition law, easing regulatory bottlenecks in the bureaucratic process, improvements in infrastructure and efforts to reduce poverty, exactly the same priorities of the Aquino administration.
"It is not prudent for Congress to jump right into Charter Change. What we need, and congress is already in the process of fulfilling it, is a strong competition law that will ensure competition and may regulate behavior of foreign firms. We must focus our energies on this before even considering options to amend the constitution," Bello said.
“Changing the constitution is not the solution. Our focus should be on ensuring the rights of the Filipino people over our resources, and on economic policies that will not compromise our fledgling industries, promote competition and ensure the welfare of ordinary Filipino consumers,” Bello concluded.
https://akbayan.org.ph
Add Your Comments
Comments
(Hide Comments)
I worked for 18 years in the Czech Republic as a general manager in electronics manufacturing companies, starting in 1992, 5 years after the fall of the Berlin wall and the end of communism in Eastern Europe. At that time the Czech Republic was a totally underdeveloped country. Workers salaries were below the equivalent of 3000p per month. Initial Czech governments also refused foreign land ownership and didn't favor foreign investments. Nothing moved, very little foreign investment, no progress. On the contrary, favoritism provided by corrupt politicians to their personal business friends allowed for the existing nationalized industries to be sold to the latter for peanuts and subsequently being looted, with high unemployment as a consequence. The whole national industry was further destroyed and looted. Only when the next governments allowed foreign land ownership and promoted foreign investments by providing financial and fiscal incentives to foreign investors, things started to change for the good drastically. The Czech Republic developed incredibly fast from that moment on and it is now a prosperous country, where ordinary Czechs are finally able to buy their own piece of land and build their own house, instead of having to sell whatever land they acquired by inheritance or restitution.
Suggesting that the ban on foreign land ownership allows poor Filipinos to buy their own piece of land is a straightforward lie. They hardly manage to buy foods, pay rent and provide education to their children. Anyone who knows The Philippines, also knows in what deplorable conditions many families have to live. It is a shame. And that is because the economy is not allowed to develop. Foreign investments and dynamics would be a blessing for the country, driving salaries up and allowing ordinary Filipinos to buy their own piece of land. Now only the already rich Filipinos are able to buy up all the land and when finally foreign land ownership will be allowed, they will collect the biggest profits. If foreign land ownership would never be allowed, then Filipino society will continue to be like a feudal system, with owners and slaves.
Suggesting that the ban on foreign land ownership allows poor Filipinos to buy their own piece of land is a straightforward lie. They hardly manage to buy foods, pay rent and provide education to their children. Anyone who knows The Philippines, also knows in what deplorable conditions many families have to live. It is a shame. And that is because the economy is not allowed to develop. Foreign investments and dynamics would be a blessing for the country, driving salaries up and allowing ordinary Filipinos to buy their own piece of land. Now only the already rich Filipinos are able to buy up all the land and when finally foreign land ownership will be allowed, they will collect the biggest profits. If foreign land ownership would never be allowed, then Filipino society will continue to be like a feudal system, with owners and slaves.
We are 100% volunteer and depend on your participation to sustain our efforts!
Donate
$225.00 donated
in the past month
Get Involved
If you'd like to help with maintaining or developing the website, contact us.
Publish
Publish your stories and upcoming events on Indybay.
Topics
More
Search Indybay's Archives
Advanced Search
►
▼
IMC Network