HR 1109 passed in Congress, Constituent Assembly by July
House of Representatives passed HR 1109 at 11:40pm. If no one stops them, Constituent Assembly may be called by July. People call this a day where congress made its own scandal.
this HR 1109 will ruin the Philippine economy in the long run. Sure by removing the restraints for foreign investors to own land for their factories would increase job. It would also help our economy grow by a "small" factor through the labor that they hire. But in the long run this FDI's would ultimately end up monopolising the Philippine economy and we the Filipinos would just be laborers for foreigners. Although the idea of ammending the constitution is good, this economic provision they are proposing is quite extreme and i don't think our econmy could get out of this mess if they push through with this.
this HR 1109 will ruin the Philippine economy in the long run. Sure by removing the restraints for foreign investors to own land for their factories would increase job. It would also help our economy grow by a "small" factor through the labor that they hire. But in the long run this FDI's would ultimately end up monopolising the Philippine economy and we the Filipinos would just be laborers for foreigners. Although the idea of ammending the constitution is good, this economic provision they are proposing is quite extreme and i don't think our econmy could get out of this mess if they push through with this.
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