BIZ BUZZ: Forging ahead
Investor morale has taken a hit amid recent corruption scandals in the Philippines, but this has not deterred these firms from moving forward with their investment plans.
Michael Tan, president and COO of Asia Brewery Inc., said companies are still interested in investing in the country despite these issues.
“The business sentiment right now is down but we still have to help our country, right? Pay the right taxes, and make sure that we hold them accountable those who are spending (taxpayers’ money),” said Tan, also the Philippine Chamber of Commerce and Industry’s vice president for industry.
Since the flood control saga in Manila began in June this year, several business groups and organizations have urged the Marcos administration to investigate the alleged anomalies in government projects and penalize those involved in the anomalies.
For now, it’s still business as usual—at least for most investors. Some of them are still in a wait-and-see mode, while others are feeling the pinch in sales.
With more revelations looming, discussions about corruption in the country are unlikely to end soon. Hopefully, investments won’t.
