Ambassador Romualdez says corruption affecting investments from US

The corruption issues hounding the Philippines are bringing hesitation among investors in the United States to invest in the country, Philippine Ambassador to US Jose Manuel ''Babe'' Romualdez said on Thursday.

In an interview on Super Radyo dzBB, Romualdez was asked if the recent corruption mess are affecting Manila's foreign investments, particularly those from the US.

''Definitely, definitely... alam mo malaking epekto sa atin 'yan kaya ang nirereport namin diyan sa atin ngayon, kailangang i-resolve nila 'yung ating mga corruption scandals na 'yan,'' Romualdez said.

(Definitely, definitely...it has a huge effect on us so we're reporting this, they need to resolve those corruption scandals.)

According to Romualdez, foreign investors are waiting for a resolution on this issue, a concern that the envoy already expressed to the Office of the President.

''Gusto nilang makita rin na talagang mahusay ang justice system sa atin,'' Romualdez said.

(They want to see that our justice system is efficient.)

In his estimate, Romualdez said billions of worth of investments could be put to waste because of these corruption issues. He pointed out that these would include the investments being pledged during President Ferdinand ''Bongbong'' Marcos Jr.'s trips to the US.

''Sayang na sayang nga eh, ako estimate ko dito, sa amin lang dito sa aming trabahong ginagawa dito, we're talking anywhere between $100 billion to $150 billion investors that will be coming in,'' he said.

(It's such a waste. My estimate is that we're talking anywhere between $100 billion to $150 billion investors that will be coming in.)

'Pervasive' corruption

The US Department of State recently flagged "pervasive" corruption in the Philippines as among the major barriers to foreign investment in the country.

In its 2025 Investment Climate report, the US State Department said "corruption is a pervasive and long-standing problem in both the public and private sector" in the Philippines.

It added that the country's rank of 114th out of 180 countries on Transparency International's 2024 Corruption Perceptions Index and "remaining around that level since 2019."

The World Economic Forum also flagged corruption as among the top problematic factors for doing business in the Philippines, the State Department said.

This came following the corruption scandal in infrastructure projects, particularly the flood control programs, which Marcos already directed to be investigated. — RSJ, GMA Integrated News