Cayetano: PHL's global competitiveness needs to be
supported by transparency and accountability in government

Senate minority leader Alan Peter Cayetano welcomed the Philippines' improved global competitiveness ranking at the World Economic Forum (WEF), now ranked 65thout of 144 economies this year from 75th last year.

He also lauded the WEF report released on Wednesday noting that the Philippines was one of the few countries that had the most improvement.

But he said the country still trails its neighbors in the Southeast Asian region. Singapore ranks second, Malaysia (25th) Thailand (38th) and Indonesia (50th).

"The improved ranking reflects that the Aquino administration is regaining people's trust with a promise of eradicating corruption and implementing transparency and accountability. But we have yet to institutionalize measures that will sustain these developments," he said.

Cayetano, the principal author of the Freedom of Information (FOI) bill, said that enacting laws like the pending FOI bill would go a long way in ensuring that transparency and accountability are upheld in the government.

"To regain people's trust is an important step. But to prove that there are genuine measures in place to stop corruption through transparency of government transactions which is guaranteed by the FOI is another," he said.

The minority leader further 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 still so much that needs to be done," he added.