THE Philippine Chamber of Commerce and Industry (PCCI) said procedural and policy reforms need to accompany prosecutors’ action to address systemic corruption in government.
PCCI President Ferdinand A. Ferrer said corrective measures should take place at the institutional level to ensure that “massive abuse of power and stealing of people’s money” never happen again.
“While corrective measures in budgeting and accountability are underway, there have to be policy changes that should stop corruption in government,” he added.
According to the newly installed PCCI president, the infrastructure corruption scandal has been indirectly affecting the operations of enterprises.
“We continue to run our businesses as resiliently and as cautiously as possible, but… this massive corruption issue has, at times, affected productivity and operations,” he added.
He said that if the billions of pesos lost to corruption were instead channeled to improvements in digital connectivity and infrastructure, the Philippines could have been a more competitive investment destination.
“The future is digital. Our micro, small and medium enterprises (MSMEs), which comprise 97% of businesses in the country, are not reliably connected to the internet,” he said.
“We need to ensure they are connected and can use e-commerce faster and efficiently. If we improve their economic standing, the country improves,” he added.
Despite concerns about cybersecurity, he said digitalization plays a vital role in “improving the ease of doing business, providing transparency and efficiency, reducing human intervention, and aligning with global best practices.”
“Starting a business is easy and simple, but sustaining operations remains difficult due to regulatory inconsistencies,” he added. — Justine Irish D. Tabile