Cayetano: Fighting
corruption is the key to improving Philippine business and investment
climate
Press Release
March
14, 2012
PASAY CITY – Senate
Minority Leader Alan Peter Cayetano urged the government to step up
its efforts in fighting corruption in the country if the government
wishes to attract more foreign investments.
The senator lamented
the Philippines’ ranking as the third worst among 142 countries in
terms of procedures to start a business in the latest World Economic
Forum Global Competitiveness Report
He cited the report’s
findings that the country still performed poorly in containing
diversion of public funds, irregular payments and bribes, favoritism
by public officials and the burden of customs procedures.
The minority leader
also echoed the call of the Asian Development Bank to fight corruption
as a means to effectively promote the public-private partnerships (PPPs)
in the country.
He pointed out that it
is important for investors in the country to see that the government
operates with transparency and accountability.
The lawmaker noted
that enacting laws like the pending Freedom of Information (FOI) bill
would go a long way in ensuring that transparency and accountability
are upheld in the government.
“The FOI bill will
provide the public access to government information including
transactions and contracts. Doing this would help prevent corrupt
practices because everything will be done out in the open. Prospective
investors and business owners especially can know that what they see
is what they get,” he said.
Cayetano also pointed
out that the government needs to improve on the current process of
starting and maintaining businesses in the country for the benefit of
local business owners.
“Prospective business
owners in the country, both local and foreign must be able to trust
the government with their hard earned capital,” he said.
He said the Aquino
government must step up its anti-graft and corruption drive, to do
nothing more would further endanger our image to prospective investors
and businesses,” he said. “There is so much that needs to be done,” he
said added.