Malacañang expressed strong confidence today that the Philippines will continue to attract foreign investment, despite recent allegations of corruption in infrastructure projects. The Palace emphasized President Ferdinand R. Marcos Jr.’s unwavering commitment to combating corruption, citing it as a key factor in boosting investor confidence and promoting transparency.
Presidential Communications Office Undersecretary and Palace Press Officer Claire Castro stated during a press briefing that President Marcos’s firm anti-corruption stance sends a clear message to the international business community. “We know that investors want to invest in countries where leaders actively fight corruption,” Castro said. “That is precisely what the President is doing right now.”
Castro highlighted President Marcos’s decisive action in creating the Independent Commission for Infrastructure (ICI) through Executive Order No. 94, signed on September 11. The commission is tasked with investigating anomalies in flood control and other related projects under the Department of Public Works and Highways (DPWH) over the past decade. This proactive move demonstrates the administration’s commitment to accountability, even within its own ranks. “The President is the only leader we know who has initiated an investigation into widespread anomalies in infrastructure projects, even those within his own administration,” Castro added.
The ICI is led by retired Supreme Court Associate Justice Andres B. Reyes Jr., with former DPWH Secretary Rogelio Singson and SGV and Co. Country Managing Partner Rossana Fajardo serving as members. The commission will recommend appropriate charges against any government officials, employees, or individuals found to be involved in irregularities.
The administration believes this bold, transparent approach will reassure investors and the public of its dedication to good governance, positioning the Philippines as a secure and reliable destination for business and development.
