A group of economists is calling for a major overhaul of the 1987 Constitution.
Foundation for Economic Freedom (FEF) president Calixto Chikiamco said on the sidelines of Pilipinas Conference 2025 at the Peninsula Manila Hotel in Makati City Friday the country could not resolve its long-standing governance and economic challenges without fundamental structural reforms.
He proposes electing a Constitutional Convention in 2028, simultaneous with the presidential elections, to draft a new charter within one to two years for a national referendum.
Chikiamco said the Constitution’s age and restrictive provisions are outdated, noting that more than three decades have passed since its drafting.
Chikiamco also dismissed calls for the resignation of the President and Vice President, saying that simple leadership changes would not address the underlying structural flaws causing high food prices and economic hardship.
While acknowledging concerns about political dynasties dominating the Constitutional Convention process, he proposed inserting safeguards and trusting the electorate to choose capable delegates.
He criticized “Filipino First” and other nationality-based economic limits, which he said have significantly discouraged foreign investments and constrained the country’s economic growth.
To combat deep-rooted corruption, Chikiamco cited the need for a strong, state-funded political party system.
He said this setup would reduce politicians’ reliance on personal campaign financing, thereby lessening incentives for corruption.
He warned that “merely putting people in jail will not change the incentive of our politicians to keep on stealing money,” adding that fundamental changes to the political system are the only way to curb these incentives.
The FEF head also wants the Constitution simplified, saying its current length and complexity make necessary amendments unnecessarily difficult, particularly in adapting to rapid changes in technology and economic conditions.
He noted that the party-list system has been abused and co-opted by traditional politicians, further indicating that systemic reforms are overdue.
On the economic front, Chikiamco urged the country to shift away from protectionism and towards global competitiveness, which he believes would attract more foreign investors, generate jobs and align the Philippines with the strategies of its Asian neighbors.
He suggested that local industries could be protected through exchange rate policy rather than restrictive constitutional provisions on foreign participation.
He also cited the urgent need to lower food costs and modernize agriculture through farm consolidation, agribusiness development, and, when necessary, liberalizing imports such as rice and corn, as the average farm size of less than 1 hectare prevents the adoption of modern technologies.
