
Originally Posted by
reklamador
the worse will come if the article 12 national trade and patrimony is going to be abolished. it states that if a foreigner invests in our country it should be that the government will own 60% of the company and 40% for the f***ing foreigner.
if it is abolished our country will become a private property of foreigners which will make our fellow filipinos become squatters in their own country.our resources will only serve the greediness of the foreign investors while nothing is left for us filipinos to use.
100% foreign ownership of mining operations is now permitted, this for good reason: we simply don't have enough funds to sustain this business. Look at what happened to Filipino-owned mining ventures who went bankrupt and weren't able to clean up their mess. With the Supreme Court decision upholding the Constitutionality of the mining act, the market hummed with foreign investors wanting to invest in the Philippines, and you know this translates to millions of jobs for our countrymen.
The Constitution is dynamic, it is supposed to change according to the needs of the times. The key word here is the national interest - it is no longer in the nation's interest to keep its doors closed lest its citizens wallow in poverty within.