President Ferdinand Marcos Jr. said foreign investors are showing renewed trust in the Philippines as the government takes steps to confront corruption in public projects.
Speaking to reporters on Saturday, Marcos stressed that exposing irregularities instead of hiding them has reassured international businesses. “Well, if we had not exposed it, then they would be saying that there’s a problem. Now that we have exposed it, their confidence is stronger in the Philippines,” he said.
He noted that confidence in both the economy and the government has been “restored,” adding that investors simply want to see concrete action from authorities. “The level of confidence in the Philippine economy and in the Philippine government as the leader and the guider of the economy is restored,” Marcos said. “All countries have their own problems. But the only problem, especially for investors, is whether or not the government is doing anything about it.”
Marcos’ remarks followed comments by Salvador Ahumada, chief executive officer of ACEIS, who said he remains willing to invest in the Philippines despite ongoing corruption controversies. ACEIS is a Bangkok-based firm engaged in major modernization initiatives.
In September, Marcos issued Executive Order No. 74 creating the Independent Commission for Infrastructure, a special panel tasked to investigate corruption, irregularities, and fund misuse in public works projects over the last decade. The new body is part of his drive to examine questionable flood control initiatives and pursue accountability.
