House constitutional amendments panel senior vice chairperson Stella Quimbo mentioned Friday that entry of overseas capital on account of Charter change is not going to put the nation in danger.
Quimbo, an economist, was responding to questions as to what’s going to occur if Congress’ efforts for Charter change, which seeks to amend limits on overseas possession of industries and companies within the nation in addition to lengthen time period limits for public officers, turn out to be profitable and overseas capital all of the sudden comes speeding in.
“How can we ensure that our national security is protected and the security of our workers are intact? Of course, they (foreign firms) will have to respect and recognize Philippine laws and be compliant with [state] regulators. We will treat them just like any other business entity,” she mentioned.
“There is also an existing law which makes sure that foreign firms coming in here are not blacklisted or in the terrorist list. That is under Foreign Investment Act, which will safeguard our national security,” she added.
Likewise, Quimbo expressed hope that overseas companies which will probably be allowed elevated possession in industries and companies on account of Charter change will rent Filipino employees.
“Hopefully, makapaglocate…dumami ang foreign firms na physically located sa ating bansa. In which case, hindi naman po puwede na dalhin nila lahat ng empleyado nila rito. Malamang ang dadalhin lang nila, top management,” she mentioned.
(It is our hope that extra overseas companies can have workplaces right here. When that occurs, they will not have the ability to convey all their present staff right here. They may solely usher in prime administration personnel with them.)
“The vast majority of employees they would need ay manggagaling sa ating mga kababayan. Iyon talaga ang inaasahan natin (will still come from here. That is what we are really counting on) for job creation,” Quimbo added.
But for House Deputy Minority Leader France Castro, permitting overseas capital in, together with within the training and mass media sectors underneath the proposed Charter change, might additionally compromise Filipino tradition and values.
“Our worry is that when they are prevalent here, we cannot avoid a situation wherein they will inculcate the public with their own culture,” she mentioned.
“We should safeguard our culture and our Filipino values,” Castro added.
President Ferdinand Marcos, Jr. already mentioned Charter change isn’t a precedence of his administration, however the House constitutional amendments panel remains to be pursuing the endeavor and has held public consultations in Cagayan de Oro, Iloilo, and Pampanga to date.—AOL, GMA Integrated News
Source: www.gmanetwork.com
