DILG lauds House OK of economic Cha-cha

MANILA, Philippines — The Department of the Interior and Local Government (DILG) has lauded the approval on second reading of the economic Cha-cha resolution by the House of Representatives.

DILG spokesman Undersecretary Jonathan Malaya said the passage Thursday night of Resolution of Both Houses (RBH) No. 2, which aims to lift restrictive economic provisions in the 1987 Constitution, would help in the post-COVID-19 pandemic recovery.

“We would like to thank our lawmakers in the lower house for recognizing the need to encourage foreign capital flow into the country in order to recharge the economy, especially since many of our countrymen have been affected by the COVID-19 pandemic,” Malaya said in a statement.

“RBH 2 will allow the country to not only bounce back from the pandemic but to achieve long-term development through an inclusive investment-led economy. We need this now more than at any time in our nation’s history,” he added.

Malaya, who is the executive director of the Inter-Agency Taskforce on Constitutional Reform (CORE), said the country can expect higher foreign direct investments to help in pandemic recovery if the measure is enacted.

He noted that positive economic constitutional reforms can open up the country to an investment-led economic growth.

The DILG official hit back at militant lawmakers for opposing economic amendments to the Constitution. He said their argument is based on an impractical and outdated economic model.