The Philippines continues to receive investment pledges from foreign investors even as investigations on flood control corruption are ongoing, Special Assistant to the President for Investment and Economic Affairs Secretary Frederick D. Go said on Thursday.

“On investment pledges, I don’t think we have lost anything. The pledges continue to come in,” Go said in a Palace press briefing.

Go belied the supposed stock market wipeout because of the infrastructure irregularities and referred to it as “confirmed fake news.”

“As a matter of fact, we are now transmitting to the Office of the President the approval of the first beneficiary of the CREATE MORE Act, which is an investment from a Korean company of over one billion dollars,” the Palace official said, referring to Republic Act No. 12066 or the Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy.

Go also said no foreign investor has left the country, amid the ongoing investigation into anomalous infrastructure projects.

“I don’t think anybody has pulled out. I think sometimes when there is unpredictability in the environment, people might temporarily think about their investment projects,” he explained.

“But we’re quite confident that when this is all resolved, they will all come back. So, they have not pulled out. They will continue with their projects,” Go explained. | PND