SBMA Chairman Roberto Garcia pushed for the IP at a ceremony last week at the Subic Bay Exhibition and Convention Center (SBECC), here. “Good governance means good business, and we have seen the fruits of good governance,” said Garcia said in his speech.

He administered the IP for representatives of investor firms here in support of President Aquino’s reform agenda and to strengthen the agency’s corporate governance initiatives, and create a more conducive investment climate.

“Aside from being a good corporate citizen, companies that sign this pledge will get certain perks given to clean and ethical companies,” Garcia pointed out.

He added that the SBMA’s Integrity Pledge has been endorsed by the SBMA Board of Directors through a board resolution last year.

The IP, which was introduced in the country by the Makati Business Club (MBC) and the European Chamber of Commerce of the Philippines (ECCP), is a document signed by heads of companies and government agencies to express their commitment to abide by ethical business practices and to support a national campaign against graft and corruption.

The pledge is regarded as an effective tool aimed at preventing corruption in public contracting, as it enables companies to abstain from bribing by providing assurances that their competitors will likewise refrain from bribery. 

Source: Manila Bulletin