ARTICLE XII

NATIONAL ECONOMY AND PATRIMONY

NATIONAL ECONOMY
Refers

to the entire structure of economic life in a country. It encompasses all the activities relating to or concerned with the production, distribution, and consumption of good and services, and what are called factors of production which are utilized to carry out these activites. The different enterprises engaged in these activities as well as the government agencies charged with the implementation of laws governing them also form part of the national economy.

NATIONAL PATRIMONY
Refers

to the natural resources of our country which under the Constitution. All the natural resources are owned by the state, i.e, the Filipino people as part of their common heritage from their forefathers. It is the obligation of every generation of Filipinos to love and care for their national patrimony, to conserve and develop it for the benefit of succeeding generations.

GOALS OF THE NATIONAL ECONOMY(SECTION I)

Equity--More equitable distribution of opportunities, income and wealth Growth--Sustained increase in the amount of goods and services produced by the national benefit of the people Productivity--An expanding productivity as the key to raising the quality of life for all, especially the underprivileged

FIRST GOAL: EQUITY

Seeks

to address the widening gap between the rich and the poor which is most pronounced in the uplands. Effective counteract on built-in advantages of the moneyed class over the upland people on the use and enjoyment of the countrys natural resources

FIRST GOAL: EQUITY

Section

2: State-owned domains

All lands of the public domain are owned by State.

Section

3: Classification of public domain and its restrictions

Public domain are classified into agricultural, forest, mineral lands and national parks.

Section

4: Specific limits of forest and national parks

First Goal: Equity

Section

5: ICCs and/or IPs

The State shall protect the rights of indigenous cultural communities to their ancestral lands

Section

Save in case of hereditary succession, no private land shall be transferred or conveyed except to person(s) qualified to acquire or hold lands of the public domain.

SECOND GOAL: GROWTH

to

increase the supply of goods and services rather than focusing on the demand. Underlines the concept of sustainable development.

SECOND GOAL: GROWTH

Section

Individuals and private groups have the right to own, establish, and operate economic enterprises Section 17 In times of national emergency the State can take over privately owned business Section 18 The State may establish and operate vital industries

SECOND GOAL: GROWTH

Section

21: Foreign Loans

may only be incurred in accordance to law and the regulation of monetary authority. Information shall be made available to the public.

Section

19: Monopoly regulation

The State shall regulate or prohibit monopolies if so required by the public interest.

SECOND GOAL: GROWTH

Section

20: Central Monetary Authority

The Congress shall establish and independent central monetary authority

Section

15: Promotion of Cooperatives

The Congress shall create an agency to promote the viability and growth of cooperatives as instrument for social justice and economic development.

THIRD GOAL: PRODUCTIVITY

Focuses

on expanding productivity on the limited land resources of the country which is only 30 million hectares. This is achieved through multiple-use forest management, agroforestry concept, wood industry rationalization program, and efficient utilization of all available natural resources.

THIRD GOAL: PRODUCTIVITY

Section

9: Economic Planning Agency

The Congress may establish an independent economic planning agency the National Economic and Development Authority shall function otherwise.

Section

12: Promotion of Filipino labor and Filipino products

The State shall promote the preferential use of Filipino labor, domestic materials and locally produced goods, and adopt measures that help

THIRD GOAL: PRODUCTIVITY

Section

14: Promotion of national talent pool of Filipinos Section 10: Filipinization of certain areas of investments Section 11: Authorization, exclusively for Filipinos

No any form of authorization shall be granted except to citizens of the Philipines.

STRATEGIES
To

develop a self-reliant and independent national economy effectively controlled by Filipinos To promote industrialization and full employment To protect Filipino enterprises against unfair foreign competition and trade practices

STRATEGIES
To

give all economic sectors and regions of the country optimum opportunity to develop To encourage private enterprises, including corporations, cooperatives and similar collective organizations to broaden the base of their ownership