American Chamber of Commerce of the Philippines
MANILA, Philippines — The American Chamber of Commerce of the Philippines (AmCham) has joined several business groups in demanding increased transparency and accountability, as the government launched an inquiry into allegations involving government-funded flood control projects.
In a statement on Friday, AmCham reiterated its continued support for good governance through various reforms that promote fair, predictable and conducive business environment.
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“We welcome ongoing efforts by government, the business community, and civil society to strengthen accountability and good governance, and we are hopeful these will translate into meaningful change,” the group said.
“AmCham Philippines will continue to be an active partner in advancing good governance by advocating for these reforms, fostering dialogue between the public and private sectors, and encouraging greater vigilance to help ensure that public officials and perpetrators of corruption are held accountable,” it added.
AmCham emphasized that corruption remains one of the most significant barriers to inclusive growth in the Philippines, which stifled foreign investments and innovation as well as hampered job creation.
Support for reforms
For its part, the group said it had supported reforms aimed at bolstering transparency and accountability in governance.
It likewise advocated for measures to increase financial transparency and strengthen oversight of public institutions, including the Freedom of Information Act, ease of doing business reforms and amendments to the Bank Secrecy Act.
READ: Corruption still worries American firms in PH
Earlier on Thursday, 30 business groups in the country pushed for an independent and thorough investigation into the alleged widespread corruption in flood control projects.
The groups said these inquiries should aim for the prosecution and imprisonment of corrupt officials as well as recovery of stolen funds.
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The Department of Trade and Industry, for its part, has launched a comprehensive investigation into the Philippine Contractors Accreditation Board to look into numerous allegations of conflicts of interest, accreditation irregularities and potential abuses of authority within the board. /rwd
