MANILA, Philippines — The proposed economic amendments to the 1987 Constitution will not serve as a “free pass” to all foreign investments in the country, Marikina 2nd District Rep. Stella Luz Quimbo said.
Quimbo made the assurance to address concerns that the proposed amendments would allow for the unregulated influx of foreign capital that would threaten local industries.
“The proposal under RBH2 (Resolution of Both Houses No. 2) is not a free pass for all foreign investments to come in,” Quimbo said in a statement.
Under RBH2, the phrase “unless otherwise provided by law” would be added to the constitutional restrictions that limit th…
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