{"id":75041,"date":"2016-04-28T21:34:28","date_gmt":"2016-04-29T01:34:28","guid":{"rendered":"https:\/\/canadianinquirer.net\/v1\/?p=75041"},"modified":"2016-04-28T21:34:28","modified_gmt":"2016-04-29T01:34:28","slug":"duterte-open-toning-constitution-accommodate-foreign-investors","status":"publish","type":"post","link":"https:\/\/canadianinquirer.net\/v1\/2016\/04\/28\/duterte-open-toning-constitution-accommodate-foreign-investors\/","title":{"rendered":"Duterte open to ‘toning down’ Constitution to accommodate foreign investors"},"content":{"rendered":"
\""I<\/a>
“I will open the economy to foreigners,” Duterte said.
(Photo: Rody Duterte\/Facebook<\/a>)<\/figcaption><\/figure>\n

MANILA\u2014PDP-LABAN standard bearer and Davao City Mayor Rodrigo Duterte said he is open to “toning down” the Constitution to accommodate foreigners interested to own and establish businesses in the Philippines.<\/p>\n

“I will open the economy to foreigners,” he said shortly after his appearance at the presidential dialogues hosted by the Makati Business Club and the Management Association of the Philippines.<\/p>\n

In February, Duterte said he is “comfortable” with up to 70 percent foreign ownership.<\/p>\n

The Constitution only allows 40 percent ownership for foreigners.<\/p>\n

However, Duterte said he will let Congress decide on which industries will be opened for foreigners.<\/p>\n

“I will tone down the Constitution for foreigners, but I will leave it to Congress to decide,” he added.<\/p>\n

The PDP-LABAN standard bearer, however, clarified that he opposes foreigners’ ownership of lands in the Philippines.<\/p>\n

Earlier, Duterte said he doesn’t have problems with leasing our lands to foreigners.<\/p>\n

He reiterated this position Wednesday, saying lands can be leased out up to 60 years.<\/p>\n

Duterte, who is running under an anti-corruption and anti-criminality agenda, said he will consult his financial and foreign relations managers regarding this matter.<\/p>\n","protected":false},"excerpt":{"rendered":"

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