AmCham Welcomes Efforts vs Corruption

The American Chamber of Commerce of the Philippines welcomed yesterday ongoing efforts to crack down on corruption amid the flood control scandal.

- — Jose Rodel Clapano

"Corruption remains one of the most significant barriers to inclusive growth and competitiveness in the Philippines," AmCham said in a statement. "It stifles foreign investments, hinders innovation, and slows down the creation of much-needed jobs for Filipinos."

AmCham renewed its push for reforms to strengthen transparency and accountability, such as the passage of the Freedom of Information Act, ease of doing business reforms, easing of bank secrecy rules to promote fiscal 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," AmCham said.