Passage of FOI bill could spur economic growth—Neda
INQUIRER FILE PHOTO
MANILA, Philippines—The National Economic and Development Authority (Neda) has expressed its support for the passage of the freedom of information (FOI) bill, saying it could be a driver of economic growth.
In its position paper submitted to the House committee on public information on Monday, Neda said the bill is “expected to be an enabler of economic growth.”
Neda cited studies covering developing countries that implemented their FOI bills, as well as the Transparency International report on corruption perception.
The agency cited the US Millennium Challenge Corporation that said transparency and freedom of access to information resulted in higher investments because investors have access to data.
“(FOI) resulted in…knowledge and perspectives on how they can best capitalize on their projects and on how government institutions operate,” the paper read.
Article continues after this advertisementAlso cited is the study of the relationship of FOI and foreign direct investments in developing countries conducted by the University of Washington, which said that FOI “reduces uncertainties in the market” and thus increase “credibility of institutions,” according to the paper.
Article continues after this advertisementThe study quoted in the paper said FOI has a role in “shaping economic incentives to which investors respond.”
The same study also showed that in 80 developing countries, implementation of their FOI bills resulted in increase in foreign direct investments from 1985 to 2008.
The agency also said according to Transparency International’s Corruption Perception Index in 2013, nine of 10 least corrupt countries have FOI laws — Denmark, New Zealand, Finland, Sweden, Norway, Switzerland, Netherlands, Australia and Canada.
The FOI bill is also consistent with the government’s Philippine Development Plan,” which expressly states that the passage of an FOI law will lead to the reduction of opportunities for corruption,” the paper read.
The 17 versions of the FOI, which ensures transparency and accountability in all government transactions and data, are being consolidated in the House of Representatives.
Meanwhile, the Senate has approved its version of the FOI.
Malacañang has committed to support the FOI’s passage but only in 2015, or a year before President Aquino completes his term.
The Palace commitment was contained in a 10-page action plan submitted to the Open Government Partnership (OGP), which the Philippines helped put up, along with seven other countries, in 2011.
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