The country’s envoy to the United States — and cousin of President Ferdinand Marcos Jr. — Ambassador Babes Romualdez has admitted that several American investors have raised deep concerns over the ongoing corruption issues hounding the Marcos Jr. administration.

“Obviously, they (the US Government) are concerned. But the concern mostly is the investors. Maraming mga American companies na trinabaho natin that were really looking into the Philippines, they are concerned about what’s going on in the country right now,” said Ambassador Romualdez in a radio interview on Monday.

“So, we’re hoping that things will move quickly in terms of the plans of the government to prosecute those who are guilty of the corruption issues that are being hurled against many of them. That’s very important, as investors are really eluding because corruption is the number one issue for them, as well as the uncertainty. That’s the issue there if they are not sure. Talagang aatras sila at pupunta sila sa ibang Asian countries that can offer other things rather than the Philippines,” he explained.

Romualdez clarified that no companies have pulled out, but many U.S. firms have already sought clarity about the situation.

“What we told them is despite what is happening, there is movement, such as cases have been filed, as we are monitoring all of that. Of course, they also have people monitoring them. But not at the point na ayaw na nilang (mag-invest). And I am hoping that these cases will be resolved quickly and that justice will prevail—that’s very important,” according to Romualdez.

He also said the U.S. Government is not contemplating backing out of its aid to the Philippines, noting that aid programs are already set and coursed through the U.S. 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 Jr. announced that arrest warrants had been issued against former Ako Bicol Party-list representative Zaldy Co and 17 others indicted on graft charges over alleged anomalies in flood-control projects.

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

This development followed the recommendation of Public Works and Highways Secretary Vince Dizon and the Independent Commission for Infrastructure for the filing of plunder charges against Co, former House Speaker Martin Romualdez, among others.

But no arrest warrant was issued against Representative Romualdez, also the cousin of the Philippine Ambassador to the U.S.