House panel adopts reso easing foreign investment rules

On Tuesday, a House committee adopted a resolution proposing amendments to the 1987 Constitution's economic provisions to allow more foreign investment.

The resolution passed with 64 votes in favor, three against, and three abstentions.

It inserts 'unless otherwise provided by law' into parts of the Constitution that restrict foreign ownership in certain industries.

This change would enable Congress to pass laws easing restrictions on foreign investors, aiming to boost economic recovery from the pandemic.