The Joint Foreign Chambers of the Philippines (JFC) is ready to do its part in addressing corruption in the Philippines.

The European Chamber of Commerce of the Philippines (ECCP) and the Makati Business Club (MBC) said on Monday that they want "to address corruption in the country."

Hubert d'Aboville, ECCP president, said that 700 companies have signed the pledge to address corruption in the country.  They are targeting about 1,000 companies by the end of this year.

"We are used to hearing complaints about graft and corruption in the Philippines.  What is good here is that the private sector is now doing something to address this,"  Julian Payne, Canadian Chamber of Commerce in the Philippines (CanCham) president, said.

He said that the Philippines' slow judicial process also affects the decision of foreign businessmen to invest in the country.

"While the laws may be correct, the enforcement and implementation is where we see constraints and gaps," Payne added.

The business group reiterated that it is important for the country to crack down on corruption as "good labor and hospitable people" will not be enough to boost Philippine economy.

"We need to crack that image and correct the impediments," D'Aboville said.

Source: Manila Times; News; 06 September 2011