MANILA — Philippine Ambassador to the United States Jose Manuel “Babe” Romualdez said growing concerns over corruption in the Philippines are causing hesitation among potential American investors, warning that billions of dollars in pledged capital may not materialize unless reforms are made.
Speaking in an interview on Super Radyo dzBB, Romualdez admitted that foreign investors are closely watching how Manila handles its ongoing corruption controversies.
“Definitely, definitely… alam mo malaking epekto sa atin ‘yan kaya ang nire-report namin diyan sa atin ngayon, kailangang i-resolve nila ‘yung ating mga corruption scandals na ‘yan,” he said.
Romualdez said he had relayed these concerns to the Office of the President, emphasizing that international investors want to see visible improvements in governance.
“Gusto nilang makita rin na talagang mahusay ang justice system sa atin,” he added.
According to the envoy, investment pledges secured during President Ferdinand “Bongbong” Marcos Jr.’s visits to the United States could be jeopardized if corruption remains unaddressed.
“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.
His comments came on the heels of the US Department of State’s 2025 Investment Climate Report, which cited “pervasive and long-standing” corruption in the Philippines as a major obstacle to foreign investments.
The report noted that the country ranks 114th out of 180 nations in Transparency International’s 2024 Corruption Perceptions Index, a position it has largely maintained since 2019.
The World Economic Forum also identified corruption as one of the top barriers to doing business in the Philippines, echoing calls for greater transparency and stronger institutions.
These assessments follow renewed controversy over alleged anomalies in infrastructure and flood control projects — a scandal now under investigation by Philippine authorities.
Romualdez said resolving such issues swiftly is essential to restoring investor trust and ensuring that promised investments translate into actual projects./PN
