HOUSE Senior Deputy Speaker and Pampanga 3rd District Rep. Aurelio “Dong” Gonzales Jr. has urged senators to pay attention to the business sector’s demand for economic and investment reforms in the 1987 Constitution. These reforms are crucial in creating more job opportunities and income for the Filipino people.
The call comes after the Philippine Statistics Authority (PSA) reported a decrease in the number of jobless Filipinos from 2.09 million in October 2023 to 1.83 million in November 2023. This decline indicates that an additional 260,000 individuals have found employment through investments in the economy. Gonzales emphasizes that attracting more investments, particularly from foreign investors, is essential for generating more jobs and income opportunities.
The House of Representatives is actively pushing for amendments to the Charter’s economic provisions with the goal of attracting foreign investors. Gonzales highlights the support of various business organizations, including the Foundation for Economic Freedom and the Makati Business Club, in advocating for reforms in the economic provisions of the Constitution.
Gonzales urges the Senate, which has historically resisted any form of Charter change, to listen to the business sector’s plea. He emphasizes that introducing constitutional reform can accelerate capital formation and expedite economic growth for the benefit of the Filipino people.
Echoing Gonzales’ sentiments, Surigao del Norte 2nd District Rep. Robert Ace Barbers states that the drop in the unemployment rate further strengthens the House’s initiative to relax the Constitution’s “restrictive” economic provisions. Barbers asserts that attracting more foreign investments will lead to more jobs, increased economic activities, and higher income for the Filipino population. He highlights that the current economic provisions of the Constitution impede foreign capital inflow due to limitations on foreign ownership and investment.
Barbers emphasizes the urgent need for constitutional amendments focused on the economic provisions to remove these restrictions. He also commends the administration’s economic policies, stating that the unemployment rate drop is evidence that they are working. Barbers acknowledges the efforts of the President, his economic team, and their allies in Congress, particularly the House of Representatives, in steering the country in the right direction.
The recent data from the PSA indicates that the unemployment rate in November 2023 was estimated at 3.6 percent, lower than the rates in both October 2023 and November 2022. This positive trend is a result of the government’s commitment to providing opportunities for decent livelihoods for all Filipinos.
Albay 2nd District Rep. Jose Ma. Clemente “Joey” Salceda also supports the urgent need for economic reforms to sustain job growth. Salceda highlights that the November 2023 unemployment rate is the lowest since April 2005, demonstrating the government’s dedication to addressing rural poverty and ensuring affordable food prices. He points out that sectors such as agriculture and fishing have contributed significantly to job creation, which also leads to lower food and overall prices.
Salceda acknowledges the growth in sectors like construction and transportation, which indicates higher demand for housing and consumer goods. He emphasizes the importance of encouraging investments in manufacturing to offset the job losses in that sector.
In conclusion, the House of Representatives, along with various business organizations and lawmakers, is calling for economic and investment reforms in the Constitution to attract more foreign investments and create more job opportunities for the Filipino people. The recent decrease in the unemployment rate is an encouraging sign that the government’s economic policies are yielding positive results. By continuing to prioritize job creation and implementing necessary reforms, the Philippines can achieve sustained economic growth and improve the livelihoods of its citizens.
Source: The Manila Times
