The Philippines needs stronger safeguards against political dynasties and greater accountability for officials implicated in corruption to restore investor confidence and open more economic opportunities for Filipinos, Senator Risa Hontiveros said.
Hontiveros, chair of the Senate Special Committee on Reinvigorate Investment and Sustainable Economic Growth (RISE), made the call after a committee hearing where former Bangko Sentral ng Pilipinas (BSP) Deputy Governor Diwa Guinigundo identified political dynasties and a culture of impunity as major concerns for investors.
Guinigundo said investors “cannot see the justice system and the rule of law as working in this country,” pointing to the “dominance of political dynasties” as a particularly large problem.
“I hope that the Senate and the House of Representatives will soon pass a genuine Anti-Political Dynasty Law … Kung ito po ay maa-address, tanggalin natin ang dominance ng mga political dynasties, it can make a dent in our efforts to stamp out red-tape and even corruption,” Guinigundo said.
He also called for the prosecution of high-ranking officials involved in corruption and the misuse of public funds, saying decisive action could help reverse the “chilling effect” on investments caused by recent controversies.
“Kung makikita ng mga negosyante at mga nangangapital na seryoso ang ating bansa sa pagpapakulong ng mga plunderers ng public money, I’m sure the erosion of public confidence and business confidence will be addressed, it will be arrested. And this is what credit rating agencies and international financial institutions are always looking at,” Guinigundo said.
Hontiveros, author and former sponsor of the Senate version of the Anti-Political Dynasty Bill, said the Senate would soon ask Malacañang to certify the measure as urgent.
“Tama na ang 39 taon ng paghihintay. The Constitution mandates this law and the Supreme Court has reminded us of its importance,” she said.
“Gagawin natin ang lahat para ipasa ang bill na ito. It is not just a reform for good governance, it is a tool for a better investment climate, and shared economic progress. After all, the concentration of political dynasties is correlated with poverty and underdevelopment,” Hontiveros said.
The senator also urged the Department of Justice and the Office of the Ombudsman to “visibly and meaningfully expand” efforts to pursue public officials involved in corruption, particularly those holding high positions.
“Ang pondong para sa proteksyon laban sa baha, dapat napapakinabangan ng mga komunidad. We have to make clear to the business community, and the whole country: our institutions work, our laws apply equally, and that contracts and commitments are actually followed. That is how we show the stability and integrity that every investor looks for,” Hontiveros said.
The Senate’s push comes as Congress faces renewed pressure to enact an anti-political dynasty law. The Supreme Court recently ruled that Congress has a mandatory constitutional duty to enact such a law and directed lawmakers to act with utmost urgency.
Photo courtesy of Inquirer.net
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