Speaker Martin Romualdez expressed his unwavering support for the Senate’s initiative to file a Resolution of both Houses of Congress. This resolution using the mode of Constituent Assembly is a decisive step towards amending the 1987 Constitution, particularly in terms of relaxing the economic provisions that currently restrict the entry of foreign direct investments into the Philippines, he said in a press statement.
“Our nation stands on the cusp of transformative economic growth, and it is imperative that we adapt our constitutional framework to the evolving global economic landscape. The amendments proposed are not just timely but necessary to unlock the full potential of our economy, fostering a more competitive, inclusive, and robust economic environment,” the Speaker said.
The move to amend the Constitution through a Constituent Assembly underscores our commitment to a democratic and participatory process. It reflects our collective resolve to address the long-standing barriers that have, to some extent, hindered our nation’s progress, he added.
Moreover, the synergy between the Senate and the House in passing this Resolution will send a strong signal of unity and purpose. It aligns with the aspirations of the proponents of the ongoing People’s Initiative, who have tirelessly advocated for constitutional reform. Their efforts, born out of a necessity due to previous unsuccessful attempts at amending the Constitution through Congress, highlight the urgent need for these reforms, he said.
“We recognize that amending the Constitution is a significant and sensitive endeavor. It requires not only the collective will of Congress but also the support and understanding of the Filipino people. We are committed to ensuring that this process is transparent, inclusive, and reflective of the aspirations of our citizens, he added.
In this pivotal moment in our nation’s history, we stand together, united in our goal to usher in a new era of economic prosperity and stability. We look forward to engaging in constructive discussions and working collaboratively with all stakeholders in this important constitutional endeavor, Romualdez said.
“As Speaker, I assure the Filipino people that their voices will be heard and their interests safeguarded as we embark on this journey towards a brighter and more prosperous future for the Philippines,” he added.*