MANILA, Philippines — The House committee on constitutional amendments on Tuesday adopted a resolution that aims to amend “restrictive” economic provisions in the 1987 Constitution.
With 64 affirmative votes, three negative, and three abstentions, legislators of the lower chamber affirmed Speaker Lord Allan Velasco’s Resolution of Both Houses No. 2, which will add the phrase “unless otherwise provided by law” to the constitutional restrictions that limit theparticipation of foreign investorsin the governing body of entities based on their proportionate share in the capital.
The resolution further adds the same phrase to provisions saying only Filipino citizens can control, ow…
Keep on reading: HOW THEY VOTED: House lawmakers affirm resolution on ‘economic Cha-cha’