President Ferdinand R. Marcos Jr.’s resolve to root out corruption in the bureaucracy benefits the economy and builds investor confidence, Special Assistant to the President for Investment and Economic Affairs Secretary Frederick D. Go said on Thursday.
“I’d just like to stress that the swiftness and decisiveness of the President show the resolve of the government to clean up corruption, which is good for the economy and builds confidence,” Go said in a Palace press briefing.
Go said the President’s proactive steps such as the formation of the Independent Commission for Infrastructure (ICI) to investigate anomalous infrastructure projects and recommend cases against corrupt officials and individuals, and the appointment of Justice Secretary Jesus Crispin Remulla as the new Ombudsman, show the government’s determination to put a stop to the misuse of public funds.
“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,” Go stressed.
The investigation will be good for the country in the long-term because it will address and correct illegal practices in government transactions, the Palace official said.
Go also emphasized that by enhancing fiscal spending, 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 said.
Go added that the administration’s fight against corruption and red tape is at the core part of its economic strategy, noting foreign business chambers have long lamented that these two major issues must be addressed.
To tackle red tape and corruption, Go said the government has come up with several programs such as the CREATE MORE Act of 2024 (Republic Act No. 12066), the Public-Private Partnership (PPP) Code of the Philippines of 2023 (RA No. 11966) and Constituting Green Lanes for Strategic Investments (Executive Order No. 18 series of 2023), to address these matters.
“Again, the President himself initiated the current investigation as a catalyst for governance reform and to address long-standing issues decisively,” Go pointed out.
The Palace official added that better budget deployment will result in projects with greater multiplier effect, bringing about economic benefits and job generation, “so while this may be a short-term issue, it definitely will have long-term benefits.” | PND
