Speaker Feliciano Belmonte Jr. INQUIRER FILE PHOTO
MANILA, Philippines—House Speaker Feliciano Belmonte Jr. is not discouraged by a Pulse Asia survey showing that 85 percent of Filipinos do not favor amending the Constitution to lift the restrictions on ownership of land here by foreigners.
“Maybe [it’s] not properly understood that this could only apply to residential and commercial and industrial lots, which are relatively small in size, not to forest or agricultural lands,” he said in a text message.
Belmonte, who is leading the congressional moves to amend the economic provisions of the Constitution deemed to be inimical to the entry of more foreign investment into the country, said a “vigorous information campaign” would be conducted once both the House and the Senate approve a proposed resolution that he has filed which would make it possible for foreigners to own land in the Philippines.
The House of Representatives is deliberating on the resolution proposing the insertion of the phrase, “unless provided for by law,” in the constitutional provisions setting limits on foreign equity in the country.
While this will not automatically allow foreign entities to own residential and commercial land as well as engage in business in hitherto restricted sectors of the economy, it will skirt the cumbersome legally sanctioned methods of changing the Charter—like a constitutional convention—as all that would be required is for Congress to enact a law to change any constitutional provision.
The resolution was debated for four session days before Congress went into recess last week.
RELATED STORIES
Drilon, Belmonte: Charter change to lift foreign equity limits
Belmonte goes all out to protect his Charter change resolution