The American Chamber of Commerce of the Philippines (AmCham Philippines) renewed its call for transparency and good governance, saying that corruption remains one of the biggest obstacles to inclusive growth and global competitiveness in the country.
“Corruption stifles foreign investments, hinders innovation, and slows down the creation of much-needed jobs for Filipinos,” AmCham said in a statement, echoing a coalition of business groups that earlier urged the government to intensify efforts to curb corruption.
For years, AmCham has supported reforms that promote accountability in governance, including the passage of the Freedom of Information Act, ease of doing business measures, amendments to the Bank Secrecy Law for greater financial transparency and stronger oversight of public institutions.
“These reforms are essential to creating a business environment that is fair, predictable, and conducive to sustained growth,” the chamber said.
AmCham welcomed ongoing initiatives by the government, civil society and the private sector to reinforce accountability, expressing hope that these would result in “meaningful change.”
The group vowed to remain an active partner in advancing good governance by pushing for reforms, fostering dialogue between the public and private sectors and encouraging vigilance to ensure that public officials and perpetrators of corruption are held accountable.
“By working together, the Philippines can address corruption, unlock greater economic opportunities, attract more investments, and secure a better future for its people,” AmCham said.
 says corruption is a major obstacle to the country's economic growth and competitiveness, renewing its call for transparency and good governance reforms.){kind=link}