Biz groups call protests 'turning point'

The country’s top business groups welcomed the nationwide protests against corruption on Sunday, Sept. 21, as a positive step toward building a transparent economic environment that inspires investor confidence.

- DEXTER BARRO II

The Federation of Philippine Industries (FPI) said on Monday that the widespread protests reflect public outrage against corruption in the country's infrastructure system, particularly the anomalous and nonexistent multi-billion-peso flood control projects.

The FPI, the umbrella group of domestic manufacturers and producers, said the demonstrations underscore the “deep public demand” for transparency, accountability, and good governance in the management of public funds.

Thousands of Filipinos took to the streets on Sunday to condemn corruption in infrastructure projects that were supposed to protect communities from flooding.

The Philippine economy is estimated to have lost over P100 billion in the past three years due to corruption in flood control projects, with ghost projects wiping out nearly 300,000 job opportunities.

The protests were largely peaceful, although over 200 people were arrested after clashes with authorities and alleged destruction of property.

The FPI noted that while protests may prompt greater caution among investors, this is only a short-term effect.