Alarmed by the massive indignation rally on Sunday, domestic businesses have strongly urged President Marcos Jr. to take decisive action against systemic government corruption and to restore investor confidence through urgent and concrete measures.
For the business and investment community, these developments carry important implications. 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.
“We believe that if addressed decisively, this moment can become a turning point that reinforces the foundations of our economy,” said Elizabeth H. Lee, chairman of the Federation of Philippine Industries (FPI), which groups the country’s various manufacturing industry associations.
The FPI believes that restoring and sustaining investor confidence requires urgent and concrete steps.
FPI has called for swift and credible inquiries into the corruption allegations must be pursued, with findings made public and accountable actions taken.
The group also called for institutional reforms in the procurement, auditing, and oversight mechanisms must be strengthened to prevent the recurrence of “ghost projects” and misuse of public funds.
The manufacturers’ group also pushed for clear policy direction where economic managers must provide consistent communication to reassure both domestic and international investors that the country’s macroeconomic fundamentals remain sound.
Lastly, FPI said that government, industry, and civil society must work together to ensure that public concerns are addressed through reforms to deter unrest.
“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,” Lee said.
The Federation, she said, stands ready to collaborate with government and stakeholders in advancing these reforms.
“The FPI remains committed to supporting policies and initiatives that foster sustainable growth, protect the integrity of our industries, and uphold the trust of both the Filipino people and the investment community,” Lee said.
