8-03-05, 9:52 am

It is not a proposal from former Pres. Fidel Ramos, nor a pending program of Pres. Arroyo, but a longstanding agenda of the United States, says IBON Foundation of Malacañang's renewed calls for Charter change (Cha-cha).

According to IBON, beleaguered Pres. Arroyo is wooing further support from the US, the most outspoken and systematic adherent of Charter change. The local US embassy, the American Chamber of Commerce, the State Department and visiting US officials have long objected to RP's constitutional restrictions on foreign land ownership and foreign investments in vital sectors. Even the government's application for economic aid from the US's $5 billion Millennium Challenge Account is conditional on the country's proving its commitment to 'open markets.'

The European Union and international financial institutions like the World Bank and Japan Chamber of Commerce and Industry have also called for the lifting of constitutional restrictions which they say are 'disincentives' to foreign investment. The World Bank in April 2005 lamented foreign investment restrictions in the Charter and called for the 'opening of professional services (such as accountants, lawyers and engineers)' to foreigners and the easing of entry and foreign ownership limits in land ownership, public utilities, educational institutions and construction companies, among others.

IBON stresses that, although Pres. Arroyo's call for Constitutional reforms once again revolved around changes to the political system and the manner they would be implemented, the real agenda behind Cha-cha is the removal of economic sovereignty provisions in the Constitution that restrict foreign ownership of land and external investments in certain vital sectors, and provide for nationality requirements in public utilities.

Amending the Charter to remove economic sovereignty provisions will remove what little protection the Constitution affords the local economy, and open the door for transnational corporations to fully exploit the country's natural resources and labor. This is why the US, foreign chambers of commerce, and multilateral institutions continue to lobby Charter change in Malacañang.

From IBON Foundation, Inc