Openness to change is openness to progress

These days there has been much opposition to the general idea of amending the Constitution. The common suspicion is that it would be used by those in power for purely political ends. 

But keeping things as they are is an obstacle to progress. Reviewing the current Constitution is always good, especially when it leads us to acknowledge lost opportunities and areas for improvement. At least for economic purposes, reviewing and amending the Constitution would be good for the nation – and Filipinos happen to agree.

According to a Pulse Asia survey conducted in March, most Filipinos believe that lifting the constitutional restrictions on foreign investments would lead to a better economy. 

Commissioned by the international think tank Stratbase ADR Institute, the survey among 1,200 respondents revealed that 64% of respondents believe lifting economic restrictions may lead to “an increase in high-quality jobs with higher salaries and better benefits.” 

More than half, or 56%, said services to stakeholders will be better while 54% believe the prices of goods and services will decrease.

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On April 3, the Stratbase Institute, in partnership with Democracy Watch Philippines, held a consultative discussion among multisectoral experts on the potential repercussions of amending the restrictive provisions of the Constitution. The consensus was that Filipinos stand to benefit greatly from the entry of foreign investments.

First, jobs. Foreign investments that would come as a result of relaxed ownership restrictions would create more and better jobs. “That is almost an objective criterion,” said Canadian Chamber of Commerce of the Philippines president, Julian Payne. 

“The question of whether it creates high-paying jobs is relative to what you are comparing it to or what your expectations are,” he added. 

Second, competitiveness. Susan Bulan of the Foundation for Economic Freedom, a public advocacy organization, said bringing in more players, whether foreign or domestic, will increase competition and contestability in the market. “The threat of competition will result in better services and lower prices,” she said, citing a 2007 study that showed a 10% decrease in airfare per