Aquino maintains position vs Charter Change-A A +A
Friday, October 18, 2013
PRESIDENT Benigno Aquino III reiterated Friday that his administration has no plan to change the Constitution to allow foreigners to own land here.
Aquino made the statement during the luncheon with the Korean business community held at the Grand Hyatt Hotel in Seoul with some 200 Korean top level executives.
“Currently, we’re not looking at revising the Constitution,” he told Korean businessmen, citing China as an example of a country that does not allow foreigners from owning land and yet performing well in terms of growth.
“China is considered one of the most consistent in terms of growth for the past decade, and I understand in China, you are not allowed to own a land,” the President said.
“So, that doesn’t seem to be a hindrance towards profitability and growth for any corporation,” he explained.
The 1987 Constitution prohibits foreigners from owning land in the Philippines. (SDR/Sunnex)