By Justine Irish D. Tabile and Chloe Mari A. Hufana, Reporters
BUSINESS GROUPS on Monday urged the Marcos administration to heed the public’s call for more transparency and accountability, and to ensure there are meaningful reforms to address corruption.
This comes a day after thousands of Filipinos joined nationwide rallies to express outrage over billions of pesos lost to graft in flood-control projects.
“The protest underscores the public’s call for stronger accountability and transparency — values that can ultimately reinforce the country’s business and investment climate,” Philippine Chamber of Commerce and Industry (PCCI) President Enunina V. Mangio said in a Viber message.
“If met with constructive reforms and consistent policy direction, these developments could pave the way for a more stable, predictable, and attractive environment for investors,” she added.
Ms. Mangio, however, said the business community is keeping a close eye on how these protests may impact the investment climate.
“This is what we are trying to monitor and address. We fear that foreign investors might take the wait-and-see attitude for the time being,” she added.
The Philippines can secure long-term investor confidence and growth by having a proactive government engagement, clearer communication, and a commitment to good governance, Ms. Mangio said.
The Federation of Philippine Industries (FPI) said that the anti-corruption protests reflect “deep public demand for transparency, accountability, and good governance in the management of public funds” that carries implications for the business and investment community.
“In the short term, recent political developments may prompt greater caution among some investors; however, this also presents an opportunity for the Philippines to demonstrate its commitment to transparency and reform, which can strengthen long-term investor confidence,” FPI said in a Viber message.
However, FPI Chair Elizabeth H. Lee said that restoring and sustaining investor confidence would require urgent and concrete steps from the government.
In particular, she said that swift and credible inquiries into the corruption allegations should be pursued and made public.
She also cited the need for institutional reforms: “Procurement, auditing, and oversight mechanisms must be strengthened to prevent the recurrence of ‘ghost projects’ and misuse of public funds.”
“We believe that by confronting these challenges with transparency and resolve, the Philippines can emerge stronger, more competitive, and more attractive to long-term investment, while at the same time safeguarding the stability that local businesses, manufacturers, and producers depend on to grow and thrive,” Ms. Lee said.
On the other hand, the Makati Business Club said that what it wants to see is reform and not the overthrow of the government.
“We need fundamental societal and systemic reform with change starting from each one of us,” it said in a statement on Monday. “We believe it is possible to significantly reduce corruption by continuing to be vigilant and demanding better governance from those we have elected and from the appointed bureaucracy.”
For its part, Malacañang on Monday sought to reassure the business community that the government is taking steps to address corruption.
Palace Press Officer Clarissa A. Castro said President Ferdinand R. Marcos, Jr.’s establishment of an anti-graft body to probe irregularities, not just in flood control projects, but for infrastructure in general, shows his commitment to addressing corruption.
“We all know that investors want to invest in countries whose leaders fight corruption, whose leaders are willing to put in jail people who are corrupt; and that is what the President is doing right now,” she said during a Palace briefing.
“We believe that all investors will admire the President because he is fighting corruption,” she added in mixed English and Filipino.
Ms. Castro said the recently created Independent Commission for Infrastructure (ICI) is already a step forward, noting that he is the only chief executive open to investigating large-scale anomalies.
Also, Ms. Castro said Mr. Marcos is open to answering any questions from the ICI after the Philippine Center for Investigative Journalism (PCIJ) reported he received a total of P21-million donation from two Department of Public Works and Highways (DPWH) contractors for his campaign during the 2022 elections.
PCIJ reported that the contractor was later awarded a significant increase in public works contracts over the past three years, raising concerns over possible violations of the Omnibus Election Code.
Ms. Castro said that the administration would not interfere in the probe.
“Let the Commission on Elections (Comelec) do its job — investigate,” she said, adding that Mr. Marcos has instructed government agencies not to shield anyone from accountability.
Meanwhile, Political scientist at the Ateneo de Manila University Arjan P. Aguirre said the government’s efforts against corruption are not enough to address this deeply rooted problem in the country, adding the establishment of the ICI is self-defeating and prone to abuse and misuse.
“That is why most of the president’s initiatives are bereft [of] institutional capacity and political legitimacy,” he said via Facebook Messenger.
Mr. Aguirre noted that most of the government responses are band-aid solutions and could have been better if the government had started addressing corruption by institutionalizing reforms within.
University of Makati political science professor Ederson DT. Tapia said anti-corruption efforts can help rebuild public trust and attract initial investor interest, but lasting investment depends on broader reforms in the judiciary, bureaucracy and regulatory agencies to ensure fairness and stability.
“Good governance attracts the first wave of interest; sustained investment requires institutions that are impartial, efficient, and insulated from political swing,” he said via Facebook Messenger.
While corruption probes can boost confidence if they result in accountability and reforms, Mr. Tapia said they risk backfiring if they only reveal systemic flaws without delivering real change.
DESTRUCTION OF RECORDS?In a related development, the ICI on Monday condemned reports of large-scale destruction and alteration of official records by Public Works personnel linked to irregular flood-control projects.
The statement, signed by ICI Chairman Andres B. Reyes, Jr., described the acts as a clear obstruction of ongoing probe and a direct violation of the public’s right to transparency and accountability.
“The deliberate concealment or alteration of records undermines the rule of law and weakens the people’s trust in government institutions tasked to safeguard public resources,” it said in a statement, noting all records relating to public works are public property.
The ICI said that those who attempt to destroy, falsify, or conceal official records will face both administrative and criminal liability.
It also called on Department of Public Works and Highways (DPWH) officials and personnel to fully cooperate with the investigation and ensure the preservation of all documents.
