Japan, Canada see no shift in investor confidence amid Philippine infra scandal

JAPAN and Canada have not observed any pullback from investors looking at the Philippines despite the months-long corruption scandal involving flood control projects, their envoys said on Thursday, underscoring continued confidence in the country’s economic trajectory.

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Japanese companies “remain very much committed” to operating in the Philippines, which Tokyo views as a high-growth market with “huge potential,” Ambassador Kazuya Endo told reporters during the 10" Pilipinas Conference in Makati City.

While transparency and accountability remain important considerations, he noted that he has “not heard any specific numbers” or indicators showing a decline in Japanese investor confidence since the controversy erupted in July.

Japan is among the Philippines’ largest trading partner, exporting $883.33 million worth of goods in September, data from the Philippine Statistics Authority showed.

“We also sometimes discuss the matters in a very casual tone with our colleagues from the private sector, but so far I don’t see any specific changes related to the posture [or] positions of the Japanese,” Mr. Endo added.