American investors ‘worry’ over infra mess

Several American investors have raised concerns over the corruption issues hounding the administration and the spreading public outrage, Philippine Ambassador to the United States Jose Manuel “Babe” Romualdez, a cousin of President Ferdinand Marcos Jr., has warned.

“Obviously, they are concerned. But the concern is mostly by investors. Many American companies we have worked hard to engage, those seriously considering investments in the Philippines, are now expressing concern over the developments unfolding in the country,” Romualdez said in a radio interview.

“So we’re hoping that things will move quickly in terms of the plans of the government to prosecute those who are guilty of corruption,” he said.

“That’s very important, as investors are really avoiding the country because corruption is the number one issue for them, as well as the uncertainty. That’s the issue there if they are not sure. They will inevitably pull back and divert their investments to other Asian countries that can offer what the Philippines currently cannot,” Romualdez said.

But Romualdez clarified that no companies had actually pulled out yet, but many US companies had asked about the issue.

“What we told them is that despite what is happening, there is movement, such as cases have been filed, and we are monitoring all of that. Of course, they also have people monitoring them. But not to the point of withholding their investments. And I am hoping that these cases will be resolved quickly and that justice will prevail — that’s very important,” Romualdez stressed.

Aid to continue

The envoy also said the US government is not contemplating withdrawing its aid to the country, as the financing programs are already in place and pass through the US Embassy.

“We are not the only Asian country that has this kind of problem. In Asia, other countries are probably worse than we are in terms of corruption,” he said.

On 21 November, President Marcos said arrest warrants had been issued for former Ako Bicol Partylist Representative Zaldy Co and 17 others indicted on graft charges over alleged anomalies in flood control projects.

He said the warrants covered Co, Department of Public Works and Highways (DPWH) personnel, and officials of Sunwest Corporation.

This after Public Works and Highways Secretary Vince Dizon and the Independent Commission for Infrastructure recommended the filing of plunder raps against Co and former House Speaker Martin Romualdez, among others.

But no arrest warrant was issued against Romualdez, also a cousin of the ambassador.

Safe from immigration pause

Meanwhile, Ambassador Romualdez said the Philippines is not   included in the latest US immigration crackdown.

This comes after US President Donald Trump announced he wanted to “permanently pause migration” from Third World countries following the recent shooting of two National Guard members, one of whom has died, in Washington D.C.

An Afghan immigrant, Rahmanullah Lakanwal, was identified as the primary suspect.

“So far, 19 third-world countries (have been named)… we are not included,” Romualdez said.

He said he didn’t think the Philippines would be on the list, citing the strong US-Philippines relationship and the positive reputation of Filipinos in America.

Romualdez noted that recent changes in immigration policies are impacting more than just developing nations. 

“They are tightening up,” he said, pointing out that even Europeans seeking permanent resident status must now navigate stricter scrutiny.

Trump’s immigration crackdown includes terminating benefits for noncitizens and re-evaluating asylum and green card approvals — including refugees and migrants admitted under prior administrations.

Romualdez said many of the countries on the restricted list were those labeled as terrorist states.

The 19 countries are Afghanistan, Burma, Chad, Republic of the Congo, Equatorial Guinea, Eritrea, Haiti, Iran, Libya, Somalia, Sudan, Yemen, Burundi, Cuba, Laos, Sierra Leone, Togo, Turkmenistan and Venezuela.

The envoy has also noted a decline in Filipino migration to America.

“Many Filipinos who had planned to remain in the United States eventually decided to leave instead,” he said, citing the new Trump policies.