Rep. Suarez champions economic reforms

By Rowena Cruz Rep. David "Jay-jay" Suarez, in collaboration with Rep. Aurelio "Dong" D. Gonzales Jr. and Rep. Manuel Jo...

By Rowena Cruz

Rep. David "Jay-jay" Suarez, in collaboration with Rep. Aurelio "Dong" D. Gonzales Jr. and Rep. Manuel Jose Dalipe, has formally filed Resolution of Both Houses Number 07 (RBH007). (Photo from David Jay jay C. Suarez/FB)

LUCENA CITY, Quezon -Quezon 2nd District Rep. David "Jay-jay" Suarez underscored the delicate balance needed between attracting foreign investment and safeguarding Filipino businesses as the House prepares to tackle proposed constitutional amendments on February 26, 2024.

"Local businesses are the backbone of our economy, and we must protect them while simultaneously seizing new opportunities for growth," Suarez emphasized.



The Congressman highlighted the potential of the amendments to boost job creation but stressed the importance of modifying the 60-40 foreign investment rule, which could lead to full foreign ownership. This shift aims to make the Philippines a more competitive destination for international investors.

Suarez cited the example of South Korean companies exiting China, noting the Philippines' struggles to attract these businesses compared to regional rivals like Thailand, Malaysia, and Vietnam.

He expressed confidence that the House Committee discussions will prioritize the interests of Filipino businesses within Resolution of Both Houses 7 (RBH 7). Suarez further urged the Senate to act swiftly on their version of the bill, stressing the importance of momentum behind these critical economic reforms.

Rep. Suarez, collaborating with Rep. Aurelio "Dong" D. Gonzales Jr. and Rep. Manuel Jose Dalipe, formally filed RBH007, a resolution seeking to amend key economic provisions of the Philippine Constitution and potentially reshape the foreign investment landscape.