The Philippines urges other Asia Pacific Economic Cooperation (APEC) economies for the adoption of open data practices under the Cebu Action Plan (CAP).

Department of Budget and Management (DBM) Undersecretary Richard Moya on Tuesday said the open data initiative will be a component of the four-pillar CAP that is set to launch during the Finance Ministerial Meeting in Cebu next month.

The CAP aims the 21 APEC economies to promote financial integration, advocate financial transparency, enhance financial resiliency, and support infrastructure development and financing.

We needed now to encourage an ecosystem where these things are more transparent, said Moya.

The more credible, the faster the velocity of transferring of data, the more [the government] will make better decisions, he added.

He mentioned that the Philippines’ initiative for open data practices in APEC targets to promote transparency in the region, with the government as a primary source of data.

As the open data practices will be introduced during the Finance Ministerial Meeting, the initiative will focus in disclosure of finance data such as taxes, tariff, budget, and expenditure, among others.

The country’s initiative also targets to share open data practices to non-Open Government Partnership (OGP) countries in the region including the critical markets in APEC such as China, Singapore, Malaysia, and Indo-China countries.

The Philippines has been a member of OGP since 2011. Other APEC economies that are also OGP members include Indonesia, South Korea, United States, and Canada, among others.

OGP is an international platform that aims government to be more open, accountable, and responsive to citizens by providing timely, useful, and accessible data.

Many APEC economies are part of the OGP but the critical part is to make the critical economies to practice open data, Moya stressed.

They will get the benefits of a transparent and open government, the DBM official said citing a report from US-based McKinsey and Company that open data can unleash US$ 3.0 trillion economic value globally.

During the Finance Ministerial Meeting, APEC economies will be discussing the principles and benefits of open data and is targeted to be a formal policy document for the future APEC meetings, according to Moya. (PNA)