Vice President Jejomar Binay on Monday vowed to amend the constitution to widen foreign ownership of businesses, create more jobs, and spur growth in the Southeast Asian economy if he wins next year's presidential elections. A former human rights lawyer, Binay, 72, is the oldest and most experienced politician among the presidential hopefuls. Along with his wife and son, Binay's family has ruled Manila's financial district for nearly three consecutive decades. Besides Binay, who is leading a coalition of small opposition groups, those eyeing the presidency include former Interior Minister Manuel "Mar" Roxas, who was endorsed by President Benigno Aquino III, and first-term senator Grace Poe. "We have to revisit our constitution, among other things," Binay said, regarding the 40-percent limit on foreign control of most businesses. "We have to get out of that 60-40 arrangement - See more at: VP Binay aims to widen foreign ownership | News | GMA News Online
Starting to warm up to this guy. Not sure why he is putting that out there though....it won't help him get any votes from the vast majority of Filipinos. It might actually hurt his chances.
On the contrary: His push for this constitutional amendment would potentially increase foreign investment and subsequently create more jobs for the common John Doe equivalent. When sold properly on the campaign trail, this would increase his potential. I leave my personal views on the person out of this....
I agree it should help his campaign out and that it makes sense....but when it comes politics in the Philippines what "should" happen rarely does. He just better hope that Manny or that ladyboy on all the local game shows/drama2x shows/movies doesn't run. The fact that a Marcos is considering running and has a ton of supporters should tell you that things aren't quite right in the Philippines.
I am not that clued up on Republic Governments but can he alone, make amendments to a Constitution or would it have to go to a vote? If it had to go to a Vote I don't see how there would be time to do it before Elections next year but I see he say If he wins but surely he will need much support. Which to me, would just mean promises he can't keep. Am I thinking straight here?
No Jack, he cannot make that decision unilaterally - it will have to be approved by both houses before he can sign it into law. However, he will have enough yeah-sayers to get it pushed through. There's no way in hell he can get this done before the elections, but he is only paving the path for his future successor: his beloved son. Don't forget: we are talking about the Binay dynasty here. He is one of the few that shows any signs of being able to think about things in the future, and that makes him the one-eyed king in the land of the blind..
Well I may be a Little off track here but I hope that with all this, he will sort out the Draconian Immigration Polices, He will have to of course, if he is about to attract more Foreign Investment and all that may go with it But......................... JP
Philippine immigration policies are quite liberal compared to most of Asia. Quite a bit nicer than the West as well. Sent from my Nexus 5 using Tapatalk
