00:00 President Ferdinand Marcos Jr. has expressed full support behind the ongoing efforts to amend the 1987 Constitution of the Philippines,
00:09 underscoring the move as crucial for the nation's future development and prosperity.
00:14 This, he said, when he spoke to a gathered audience of lawmakers, government officials,
00:19 and members of the Philippine Constitution Association, where he outlined his vision for a reinvigorated Philippines,
00:26 one that can better navigate the challenges of the 21st century through essential constitutional reforms.
00:33 President Marcos Jr. emphasized that the current Constitution, while having served the country well for over three decades,
00:40 contains provisions that now post limitations to economic growth, foreign investment, and governance efficiency.
00:48 He also highlighted the need for amendments that would allow greater flexibility in the economy,
00:53 particularly in opening up sectors currently restricted to foreign investors.
00:58 The chief executive expressed his belief that changes in the 1987 Constitution are vital to attract more foreign direct investments,
01:06 create jobs, and stimulate economic growth.
01:09 I want to make it clear.
01:12 This administration's position in introducing reforms to our Constitution extends to economic matters alone.
01:21 Or those strategically aimed at boosting our country's economy.
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