Marcos economic aide on corruption impact on investments: Negativity is overblown

Special Assistant to the President for Investment and Economic Affairs (SAPIEA) Frederick Go on Thursday said the reported negative impact of the flood control controversy on foreign investments was “overblown” and that the investigation of alleged corruption is actually beneficial to the country in the long run.

In a Palace press briefing, Go pointed out that President Ferdinand Marcos Jr.’s “swiftness and decisiveness” in his anti-corruption campaign will be good for the economy.

“I believe the negativity is overblown. This investigation will be good for the country long-term because it will address and correct the wrong practices. The effect of this is that the budget, and we already see it now, will be more efficiently spent and allocated on more productive programs which will benefit the country and our people,” he said.

“Better deployment of the budget will result in projects with greater multiplier effect, bringing about better effects on the economy and jobs created. So while this may be a short-term issue, it definitely will have long-term benefits,” he added. 

Go stressed that Marcos’ recent decisions in ensuring transparency and accountability in his anti-corruption drive is “good for the economy and builds confidence.”

“From the formation of respectable members of the independent commission to the very swift appointment of an Ombudsman with gravitas, it shows how serious the President is about fixing this problem,” he added

He noted that business chambers have long lamented the corruption and complicated red tape in the country and that the government recognized these concerns.

“We have come up with several programs such as the CREATE MORE Act, the PPP code, and the green lane for strategic investments precisely, these are all meant to address these matters,” Go said.

He made the remarks in response to the US Department of State’s assessment that “pervasive” corruption remains a major barrier to foreign investments in the country.

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

For Go, the government is “turning a short-term challenge into an opportunity to reallocate funds to projects with a far greater growth and employment multiplier effect.”

“This is the clearest signal that the Philippines is building a future-ready economy, anchored on trust and sustainable growth,” he added. — JMA, GMA Integrated News