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US State Department flags corruption as barrier to investment in PH
A recent US State Department report has highlighted pervasive corruption as a significant and long-standing issue within both the public and private sectors of the Philippines.
The report indicates that corruption is a major impediment to doing business in the country, a sentiment echoed by the World Economic Forum.
The Philippines' ranking on Transparency International's Corruption Perceptions Index has remained stagnant at 114th out of 180 countries since 2019.
The US State Department noted that the Philippines' complex, slow, redundant, and sometimes corrupt judicial system inhibits the timely and fair resolution of commercial disputes.
Foreign investors describe the inefficiency and uncertainty of the judicial system as a significant barrier to investment, often declining to file cases due to slow and complex litigation processes and fears of corruption.
US investors have reported inconsistent regulatory enforcement and described processes such as business registration, customs, and immigration as burdensome.
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