Necessity

Domestic producers or corporations are less capable to fully advance on innovation which this
country needs.
In most other cases in the developing world the appearance of domestic producers in a new
emerging industry is unlikely or might take too long. Policies to foster entrepreneurship in new
sectors can be very costly to the economy as a whole, if these sectors have technological
requirements that run too far ahead of domestic capabilities. Besides, there are very few countries
where governments can be as effective in nurturing technologically advanced domestic firms.
Examples of failing and costly intervention in favour of domestic firms in high-technology sectors
abound in the developing world. One of the most disastrous was the Brazilian “informatics policy”
of the early 1980s, which involved severe restrictions on FDI in information technology sectors.
These restrictions led to very little domestic investment, and the firms that were created were
highly inefficient. The policy was abandoned well before the program was due to expire.
One cannot address the monopolistic conditions in the Philippines such as telecommunications,
media, and mining industry without amending the constitution and liberalizing the country to
foreign ownership and investment. To destabilize monopoly and re-distribute the economic wealth
even to the lowest of economic classes in the Philippines, it is important to allow foreign investors
to aid our country toward economic prosperity.

Practicability
Instead of restricting foreign ownership, it will be much more practicable to require foreign
investors to contribute in developing the following six key areas which are more pressing concern
than the abstract concept of solemnity of nationalism: hunger and poverty, agriculture,
environment, public health, and most importantly, employment and education.
Such liberalization and being welcoming to foreign ownership and investment allows this country
to be creative in its policies to ensure that zero restriction will directly benefit the Filipino people
and the state of their daily living.
In lifting the ban to foreign ownership, we can also include the following amendments in the
Constitution to ensure the direct positive effect of this change to our economy by imposing the
following responsibilities:
On improving employment and education

Feasibility