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Charter Change and National Security 2.1


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Arguments why removing the economic restrictions answers the President Aquino's concern about national security

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Charter Change and National Security 2.1

  1. 1. ChaCha and National Security Foundation for Economic Freedom
  2. 2. Current Scenario The greatest challenge that the Philippines faces is the threat to its territorial integrity and national sovereignty from China
  3. 3. The Need for Constitutional Reform Removing the economic restrictions answers the President's concern about national security WHY?
  4. 4. FDIs and Foreign Support for the Philippines • The Philippines has the lowest FDI in ASEAN. • Low FDIs mean that the economic interest of foreign countries in helping the Philippines maintain its territorial integrity and maritime security is low. • We need to abolish the foreign ownership restrictions in the Constitution and increase FDIs to increase the willingness of foreign countries to help us defend our territorial integrity and maritime security against China.
  5. 5. Modernization of strategic infrastructure • Strengthening and operation of vital infrastructure is a national security concern • Removing restrictions will allow well- capitalized investors to invest and help modernize strategic infrastructures e.g., telecoms, airports, seaports, shipping, etc. • The speed of our response during and after Super Typhoon Yolanda shows the inferiority of our communications and logistics
  6. 6. Transpacific Partnership • We need to join the TPP lest we get left behind. Vietnam and Malaysia have already joined. • TPP is a US-led trade initiative and is the linchpin of the US re-pivot toward Asia. Not joining TPP is saying we don’t need the US in defending threats to our territorial integrity against China. • To become a full member of the TPP we have to ensure equality of treatment for both foreign and local investors, which means we need to remove the Constitutional restrictions on foreign ownership.
  7. 7. Adverse Selection • Restrictions encourage foreign investors to use dummies or creative legal maneuvers to circumvent the Constitution • We are at risk of having triads, mafias and agents of unfriendly countries into our country especially when institutions remain corruptible • We can’t attract world-class foreign companies from countries with rules against bribery and unethical practices to set up shop in the Philippines if restrictions remain in place.
  8. 8. Bangsamoro Peace Agreement • Removing foreign ownership restrictions will help foreign capital flow into the Bangsamoro region to help achieve economic prosperity under autonomy. • Achieving internal peace and security will help unify the country against external threats to its national security.
  9. 9. Conclusion Strengthen national security by passing the Belmonte resolution to amend the Constitution by inserting the phrase “unless provided by law” into the foreign ownership restrictions in the economic provisions in the Constitution and subsequently liberalize the provisions by legislation.