Use improved score in corruption perception index to boost FDI – Sen. Marcos
The government should make use of the improved ranking of the Philippines in the corruption perception index to boost the country’s foreign direct investment (FDI), Senator Ferdinand “Bongbong” R. Marcos, Jr. said.
The latest Transparency International Corruption Perception Index, which rated 177 countries, has ranked the Philippines 94th this year with a score of 36, from 105th last year with a score of 34.
Marcos said the government should “advertise” the Philippines abroad, riding on the higher score and ranking this year in the corruption perception index, to encourage foreign investors to do business in the country.
“What we need to do now is to go to the foreign business sector and show them the rating given by the Transparency International’s Corruption Perception Index. That score should not just remain in the scoreboard but should be used as our strong marketing point in inviting international investors,” he said in a statement.
He said the government should come up with a good marketing strategy anchored on the index score to promote the Philippines as an investment-friendly destination in order to shore up FDIs.
“When we look at the FDI numbers in the last two years, wala tayong nakikitang direct investments from foreign investors. We need foreign direct investment, we need capital investment, that’s the key to development,” he said.
Transparency International is a non-government organization that monitors and publicizes corruption in international development.
In its corruption perception index that scored countries from 0 (highly corrupt) to 100 (very clean), Denmark, New Zealand, Sweden and Norway topped the list while South Sudan, Sudan, Afghanistan, North Korea and Somalia were at the cellar.