The Plenary of the House of Representatives
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 the participation of foreign investors in 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, own, and/or lease public utilities, educational institutions, mass media companies, and advertising companies in the country.
Here’s how the members of the House committee on constitutional amendments voted:
(Note: Yellow highlight means no vote)
The committee, however, excluded from the resolution the proposed amendment to Section 7 of Article XII referring to the ban on foreign ownership of land.
The resolution will now be brought to the House plenary for further debates.