President Aquino underscores holistic approach to end corruption in the Philippines

MAKATI, 10 December (PIA)--“The only way we can truly end corruption in the Philippines is by taking a holistic approach—one that involves both government and the private sector.”

This was the statement made by President Benigno Aquino III during the Integrity Summit 2015 held at the Makati Shangrila.

President Aquino reiterated that over the past few years, this initiative by the Integrity Summit – along with the forces for reform – has grown by leaps and bounds.

“One example is their Integrity Pledge, which gathers signatories from both the public and private sector, all of whom commit to exercise zero-tolerance for corruption and it has already reached more than 3,000 signatories as of this year, with an eye towards reaching 10,000 by 2017,” Aquino said.

He added that over the course of his term, the administration can attest to the effectiveness of their partnership, and have proven, time and again, that good governance is indeed good economics.

“You don’t even have to take my word for it. After all, one of the distinguished members of our audience today—Mr. Peter Perfecto—spoke about the transformation of the Philippine economy along the Straight Path during my last State of the Nation Address,” Aquino said.

“I remember him mentioning how our net foreign direct investments reached $6.2 billion last year, which was our all-time high,” Aquino added.

He also talked about our country’s rise in the World Economic Forum’s Global Competitiveness Index, “We went from 85th in 2010 to 52nd in 2014, with that particular organization crediting our anti-corruption agenda,” Aquino said.

The President also boasted that the Philippines have once again moved up its rankings to 47th place in the 2015 report, marking a 38-place jump since the administration took office.

“In the past five years, our economy’s growth rate has clocked in 6.2 percent—our fastest in nearly four decades, and one of the fastest in Asia,” Aquino said.

“Even legislation has improved our economic landscape, like the Competition Law, which fulfills the twin goals of improving the goods and services available to our people, and incentivizing innovation among companies; the Tax Incentives Management and Transparency Act, which will establish a more strategic and deliberate system through which government can offer tax incentives and focus on critical growth areas; and many more,” Aquino said.

Integrity Summit aims to recognize the private sector’s effort and commitment to develop a culture of integrity alongside the creation of strategic integrity alliances across all sectors, to change the corruption-infested societal norm into a more competitive, fair, and ethical business environment.

This year’s event, coincided with the World Anti-corruption Day celebration, enjoins all sectors to heed the urgent call to go beyond fighting corruption towards building systems for integrity and multi-sector circles of integrity. It shall situate our campaign within global trends and commitments for integrity and shall once again become a venue to recognize best practices and systems of companies that are true to their pledge of instilling integrity in their operations and activities. (PIA-NCR/RJB/SDL/PIA-NCR)

 © 2015