Industry group sees investor confidence rising as gov’t cracks down on corruption

Investor confidence is showing signs of improvement as government agencies step up efforts to address corruption and irregularities in major infrastructure and trade projects, according to industry leaders.

In a briefing held in Taguig City, Federation of Philippine Industries (FPI) chairperson Elizabeth Lee said the appointment of Vince Dizon as acting secretary of the Department of Public Works and Highways (DPWH) and Ariel Nepomuceno as commissioner of the Bureau of Customs (BOC) has been well-received by the business community.

Lee noted that the ongoing probes into anomalous flood control projects, as well as checks on officials’ assets and luxury vehicles, are sending a “strong signal” that reforms are being taken seriously.

“That is a very strong signal for the business community to say, may nangyayari, at may mangyayari (something is happening, and more will happen),” Lee said.

FPI chairperson emeritus Jesus Arranza echoed the view, saying industry groups have long been engaging with government to address issues like smuggling and corruption but had often been met with limited action.

“Pero ngayon, nagbago na ang simoy ng hangin. Siguro gaganda naman (Now, the breeze has changed. It might get better),” Arranza said.

The group also outlined reforms it believes could institutionalize transparency and accountability in agencies such as the BOC and DPWH. Among these are embedding standardized workflows, expanding digital automation, conducting regular audits, and strengthening whistleblower protections.

“These measures can foster a culture of accountability and transparency, reducing the influence of bad actors,” FPI said in a statement.

For manufacturers in particular, Lee said stricter anti-smuggling measures would ease pressures on local industries and help them not just “survive but thrive.”