President Ferdinand “Bongbong” Marcos Jr. leads on Wednesday, Dec. 13, 2023, the turnover of P776 million worth of excavators procured by National Irrigation Administration at Subic Freeport Zone in Olongapo City, Zambales. (File photo from the Facebook page of Presidential Communications Office)
MANILA, Philippines — President Ferdinand “Bongbong” Marcos on Friday said the government is studying ways to make the country friendlier to investors, which may include amending the 1987 constitution.
During an ambush interview at Muntinlupa city, Marcos was asked about the push in the House of Representatives to amend the Constitution.
In response, the Chief Executive said there was a study to see how laws are affecting the Philippines’ viability for investment.
“We’re just beginning to study because we keep talking about economic provisions that are getting in the way with some of the potential investors that we are trying to bring to the Philippines,” the President said.
Marcos did not specify which of the provisions he was referring to.
But he said certain parts of the Constitution may discourage potential investors.
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However, he emphasized the study was not just about the charter.
“What we are looking at here is the opportunity cost of those who would like to invest here, but somehow, laws derived from the constitution, when it comes to the economic provisions, do not allow them to, or make it non-viable for them,” Marcos pointed out.
“So, that’s the study – to see if it requires that, or we can do it any other way,” he said.
“But my interest… my primary interest is to try and make our country an investment-friendly place. That’s why we’ll see,” he emphasized.
“That’s why the study is really not about the Constitution. It’s about what do we need to do, what do we need to change so that these potential investors will, in fact, come to the Philippines,” he repeated.
Some House members revived efforts to amend the Constitution in a bid to change economic measures that they believed were restrictive.