Pasay city: An official from a foreign chamber has expressed confidence that the government will eventually address issues surrounding anomalies in infrastructure projects, which are currently impacting investor sentiment.

According to Philippines News Agency, European Chamber of Commerce and Industry (ECCP) Executive Director Florian Gottein shared his views during the first day of the Arangkada Philippines investment forum held at Marriott Manila in Pasay City. Gottein noted that their member-investors are adopting a wait-and-see approach, but he expressed trust in the government's ability to investigate and act on the findings related to these anomalies.

President Ferdinand R. Marcos Jr. recently signed Executive Order No. 94, establishing the Independent Commission for Infrastructure (ICI) to investigate corruption, irregularities, and misuse of funds in government flood control and related projects over the past decade. In parallel, the Senate is conducting its own inquiry into the anomalous flood control projects, particularly focusing on the province of Bulacan.

The investigations have already led to the dismissal of several Department of Public Works and Highways (DPWH) officials and potential charges against others, including contractors. A high-ranking DPWH official in Bulacan has returned several vehicles allegedly purchased with funds from the anomalous projects, and others have been asked to account for their lavish lifestyles. Some senators have also been implicated in the investigations.

Gottein mentioned that the issue indirectly affects some ECCP members involved in the production of construction materials, as projects being put on hold have led to a reduction in sales. However, he clarified that these companies are not directly involved in government projects.

The ECCP head highlighted that while anomalies in flood control projects contribute to investor concerns, the ease of doing business remains a more significant issue. Regarding the potential impact on the country's free trade agreement negotiations with the European Union, Gottein stated that it depends on the speed and thoroughness of the government's investigations and subsequent actions.

He concluded by expressing hope that safeguards would be implemented to prevent similar situations in the future.