Top businessmen seek clarity amid flood issue

TOP Philippine business leaders said investor confidence could still recover despite the drag from a multi-billion-peso flood control corruption scandal but stressed that the government should restore credibility and provide a clearer policy direction to sustain investment momentum.

- By Aubrey Rose A. Inosante Reporter

"At times like this, what matters most for markets and businesses is not the noise around us, but the strength of our institutions and the steadiness of our long-term fundamentals," SM Investments Corp. Chairman Amando M. Tetangco, Jr. said in his keynote address at BusinessWorld Forecast 2026.

Mr. Tetangco, a former Bangko Sentral ng Pilipinas governor, said the graft scandal, which has eroded sentiment and contributed to slower growth and weaker household spending, should be confronted with fairness and transparency.

"In this environment, investors and consumers look for clarity clarity of direction, policy consistency and disciplined execution," he said. "Credibility is the foundation of trust, and trust is the foundation of confidence."

He added that the country's institutions remain stable and that the Philippines' macroeconomic strengths continue to "prevail over instability." Filipinos' resilience, he said, has been a consistent source of stability through past economic cycles.

Mr. Tetangoo said strengthening the Philippines' appeal as an investment destination would require lowering power costs, diversifying the energy mix, improving predictability in the permitting process and upgrading ports and logistics.