Foreign investments in public utilities pose national security risks: Colmenares
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Foreign investments in public utilities pose national security risks: Colmenares
Atty. Neri Colmenares, former Bayan Muna Partylist representative in this December 1, 2020 file photo. Joseph Vidal, Senate PRIB/File.

MANILA — Bayan Muna chairperson Neri Colmenares on Wednesday said allowing foreigners to have control of public utilities, particularly communication, in the proposed economic amendments in the 1987 Constitution may endanger the country’s national security.
MANILA — Bayan Muna chairperson Neri Colmenares on Wednesday said allowing foreigners to have control of public utilities, particularly communication, in the proposed economic amendments in the 1987 Constitution may endanger the country’s national security.
The former lawmaker noted some countries, including the U.S. and China, have certain interests in the Philippines.
The former lawmaker noted some countries, including the U.S. and China, have certain interests in the Philippines.
“It is really possible that they will, of course, try to control certain aspects ng ating political and economic life,” Colmenares said before the House Committee of the Whole on the hearing on Resolution of Both Houses 7, which seeks to amend the Constitution’s economic provisions.
“It is really possible that they will, of course, try to control certain aspects ng ating political and economic life,” Colmenares said before the House Committee of the Whole on the hearing on Resolution of Both Houses 7, which seeks to amend the Constitution’s economic provisions.
“'Yun ang lifeblood mo eh, kumbaga ‘yan ang pinaka-importanteng industriya mo, tapos hawak ng iba? ‘Di wala kang kontrol ngayon doon sa napaka-basic na pangangailangan?” Colmenares added.
“'Yun ang lifeblood mo eh, kumbaga ‘yan ang pinaka-importanteng industriya mo, tapos hawak ng iba? ‘Di wala kang kontrol ngayon doon sa napaka-basic na pangangailangan?” Colmenares added.
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The resolution proposes to insert the phrase “unless otherwise provided by law” in the sections of the Constitution that supposedly restrict foreign ownership in the public utilities sector, as well as in educational institutions and advertising.
The resolution proposes to insert the phrase “unless otherwise provided by law” in the sections of the Constitution that supposedly restrict foreign ownership in the public utilities sector, as well as in educational institutions and advertising.
Colmenares questioned the insertion of the phrase in the provision “The participation of foreign investors in the governing body of any public utility enterprise shall be limited to their proportionate share in its capital.”
Colmenares questioned the insertion of the phrase in the provision “The participation of foreign investors in the governing body of any public utility enterprise shall be limited to their proportionate share in its capital.”
He said it would be discriminatory against Filipinos who contributed more in the capital but would have less share in the governance and management of a corporation.
He said it would be discriminatory against Filipinos who contributed more in the capital but would have less share in the governance and management of a corporation.
“Ibig sabihin, puwede pala ang batas sabihin niya na itong foreign investor, ang kanyang share sa governing body ng public utility is not commensurate to his capital? So, ibig sabihin, [kung] 40 percent ang capital niya, puwede palang 60 percent ng governing body kanya? Is it that discriminatory against Filipinos na 60 percent owner ng isang public utility?” Colmenares argued.
“Ibig sabihin, puwede pala ang batas sabihin niya na itong foreign investor, ang kanyang share sa governing body ng public utility is not commensurate to his capital? So, ibig sabihin, [kung] 40 percent ang capital niya, puwede palang 60 percent ng governing body kanya? Is it that discriminatory against Filipinos na 60 percent owner ng isang public utility?” Colmenares argued.
He continued, “Hindi ko nga maintindihan bakit i-‘otherwise’ ito? Hindi ba tama lang na ang share ng isang investor is always commensurate to his capital?”
He continued, “Hindi ko nga maintindihan bakit i-‘otherwise’ ito? Hindi ba tama lang na ang share ng isang investor is always commensurate to his capital?”
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1-RIDER Party-list Rep. Ramon Rodrigo Gutierrez said welcoming foreign investors in public utilities would allow “fair competition” and would, therefore, benefit more Filipinos as it would generate jobs.
1-RIDER Party-list Rep. Ramon Rodrigo Gutierrez said welcoming foreign investors in public utilities would allow “fair competition” and would, therefore, benefit more Filipinos as it would generate jobs.
“These local players are the middlemen, the gatekeepers of our economy. Why must we force foreign investors to partner with the already rich in this country? Open it up, let them come in. Let us have fair competition,” he said.
“These local players are the middlemen, the gatekeepers of our economy. Why must we force foreign investors to partner with the already rich in this country? Open it up, let them come in. Let us have fair competition,” he said.
NATIONALISM
Meanwhile, Ibon Foundation Executive Director Sonny Africa said the country should prioritize its industrialization and local production, rather than liberalization of foreign investments without mutual benefits.
Meanwhile, Ibon Foundation Executive Director Sonny Africa said the country should prioritize its industrialization and local production, rather than liberalization of foreign investments without mutual benefits.
“Hindi kakulangan ng foreign investment ang problema. Ang problema, kakulangan ng ambisyon at nasyonalismo,” Africa said.
“Hindi kakulangan ng foreign investment ang problema. Ang problema, kakulangan ng ambisyon at nasyonalismo,” Africa said.
“Walang ibang solusyon kundi mag-industrialize, ‘yong pagbubukas nang walang nasyonalismo ay recipe for economic disaster,” he added.
“Walang ibang solusyon kundi mag-industrialize, ‘yong pagbubukas nang walang nasyonalismo ay recipe for economic disaster,” he added.
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Energy Undersecretary Sharon Garin argued that opening up to foreign investments does not equate to being less nationalistic.
Energy Undersecretary Sharon Garin argued that opening up to foreign investments does not equate to being less nationalistic.
“What is more nationalistic [than] having foreign funding in order for us to have better basic services or we do not accept foreign investment and have poor basic services? I think it is unfair to say that just because we accept foreign direct investments, we are less nationalistic than others,” she said.
“What is more nationalistic [than] having foreign funding in order for us to have better basic services or we do not accept foreign investment and have poor basic services? I think it is unfair to say that just because we accept foreign direct investments, we are less nationalistic than others,” she said.
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