91% favor Charter change – MBC survey

MANILA, Philippines – Close to 91% of the surveyed members of the influential Makati Business Club (MBC) said they are in favor of the initiation of amendments to the economic provisions of the Philippine Constitution.

This result of the latest Executive Outlook Survey conducted between February 5 and March 6 were presented at a general membership meeting on Wednesday, March 20. It showed an increasing proportion of members in favor of constitutional change than in 2003 and in 2006.

On the issue of the Constitution’s economic provisions, specifically the removal of foreign ownership restriction under the 1987 Constitution to attract more foreign investments, more than 59% said they favor initiating the amendments within the next 12 months. Over 31% said this should be undertaken after the next 12 months.

Only 6% do not favor Charter change at all.

When a similar poll was conducted in January 2006, only 52% were in favor of amending the Constitution and 31% were not in favor of changing it.

In the July 2003 survey, half of the respondents were in favor, nearly 40% were against it, and over 10% were undecided.

It must be noted, however, that in these two earlier surveys, respondents were asked whether were in favor of Charter change in general at that time. This is unlike in the 2013 survey, which was
more specific in asking the question of whether or not they are in favor of amending the Constitution’s economic provisions.

About 64 members out of the MBC’s over 380 member-companies participated in the survey.

About 75% of the respondents are Filipinos and the rest are foreigners.

President Benigno Aquino III has previously said that changing the 1987 Constitution, which was crafted during the administration of his mother, the late President Corazon Aquino, is not necessary to help spur the Philippine economy’s growth. – Rappler.com