Marcos urged: Fast-track FOI, other measures to materialize investment pledges
The Makati Business Club urges the Philippine government to prioritize governance reforms that translate investment pledges into tangible economic growth. They emphasize that streamlining processes, enhancing workforce skills, and improving infrastructure are essential for maintaining competitiveness and boosting investor confidence. A central pillar of this appeal is the acceleration of the Freedom of Information bill. Establishing robust public disclosure guidelines is critical for transparency, directly addressing the accountability gaps that often deter foreign capital. This legislative push seeks to operationalize the state’s mandate for openness, ensuring that transaction data is accessible to the public. This focus is highly relevant to open_data as it highlights the legal and structural necessity for government transparency in emerging economies. By advocating for FOI laws, the business community underscores how accessible, standardized public data serves as a foundational tool for trust. Such openness reduces information asymmetry, allowing markets to function more efficiently and enabling stakeholders to make informed decisions based on reliable official records.
Source: philstar.comPublished on 2024-07-16