Marcos: Cha-cha should focus on attracting potential investors

President Ferdinand ''Bongbong'' Marcos Jr. on Friday said the study on amending the 1987 Constitution should focus on how to attract more investors in the country.

In an ambush interview in Muntinlupa City, Marcos was asked for his reaction on the recent call in the House of Representative regarding Charter change (Cha-cha).

He said the study on the matter should be about attracting investors to come to the Philippines which is his "primary interest." 

''We're just beginning to study because we keep on talking about economic provisions that are getting in the way with some of the potential investors,'' Marcos said. 

"In my interest, my primary interest is to try make our country an investment friendly place... That's why the study is really not about the Constitution, it's about what do we need to change so that these potential investors would come to the Philippines,'' added the President.

Speaker Ferdinand Martin Romualdez, his cousin, said that the lower chamber of Congress in 2024 would focus its attention on proposals regarding restrictions in the entry of foreign capital and investments including Cha-cha.

In a speech before the House adjourned its session until January 22, 2024, Romualdez pointed out that Cha-cha was needed to unlock the country's potential as an investment destination.

“Next year, we will focus our attention on studying and reviewing proposals that deal with the restrictions blocking the entry of foreign capital and investment in the Philippines," Romualdez said.

"These include deliberations on proposed measures related to Constitutional change,” he added.

Senator Imee Marcos, the President's sister, said that "someone" might want to be Prime Minister because the person cannot win the presidency amid the renewed interest in Cha-cha in the House of Representatives.

Meanwhile, Senator Cynthia Villa on Friday expressed reservations in supporting the renewed push to amend the 1987 Constitution.

"Alam mo naman ang mga Pilipino, ayaw naman nila ng Charter change in general, 'di ba? Hindi popular sa Pilipino 'yan," Villar said in an ambush interview in Las Piñas.

(Filipinos do not want Charter change in general, right? That is not popular among Filipinos.)

"Siyempre ang Senado, 'di kami ano sa Charter change kasi hindi naman gusto 'yan ng general public. It has been noted in all the research na ayaw nila ng Charter change. Basta ayaw ng tao, ayaw ko. Ang masusunod 'yung ating mga kababayan kung ano ang gusto nilang mangyari sa ating bayan," she added.

(In the Senate, we are not that supportive of Charter change because the general public doesn't want it. It has been noted in all the research that Filipinos are not for Charter change. As long as the public doesn't want it, I won't support it. The will of the people should be followed.)

During his state visit in Japan in February, Marcos said amending the 1987 Constitution was not a priority of his administration, noting that the administration's goals can be achieved under the present Constitution.

Marcos touted the country’s liberalization reforms on foreign investment, particularly the revised implementing rules and regulations (IRR) of the Build-Operate-Transfer (BOT) Law to improve the financial viability of PPP projects.

The President also brought up the Philippines' removing major barriers to foreign investments via landmark legislations, such as the amendments to the Foreign Investments Act, the Public Service Act, and the Retail Trade Liberalization law. –VAL, GMA Integrated News