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BUSINESS

Business groups urge Marcos to address flood scandal

Toby Magsaysay

A coalition of the Philippines’ largest business organizations has called on President Ferdinand R. Marcos Jr. to urgently address what they described as a “crisis that has eroded public trust and now threatens our national security,” referring to the massive corruption scandal surrounding the country’s flood control and infrastructure projects.

In a joint statement released Sunday, 19 October 2025, the resolution — signed by 34 major business groups including the Makati Business Club (MBC), Philippine Chamber of Commerce and Industry (PCCI), and the Financial Executives Institute of the Philippines (FINEX) — condemned the alleged misuse of public funds intended for disaster prevention and infrastructure development.

“We have contributed to national funds [through] taxes locally and nationally[,] and have paid additional assessment of taxes. We provided many fees to enable us to do business. Yet, [t]rillions of pesos supplied and intended to protect our communities from disasters have been squandered through ghost projects, substandard work, and inflated contracts,” the groups said.

Addressed directly to President Marcos Jr., the statement outlined four key actions the coalition urged the administration to implement “immediately and transparently.”

First, it called for granting the Independent Commission for Infrastructure (ICI) full autonomy and legal authority to conduct a “swift, comprehensive investigation, free from political influence.” The groups also urged the prosecution of all individuals involved, regardless of rank or affiliation, and demanded restitution of ill-gotten gains alongside legislative reforms to curb systemic corruption.

Finally, the coalition emphasized the need for regular public updates on the investigation’s progress “to demonstrate genuine commitment and credibility.”

“We, the major business organizations representing members across all sectors — large, medium, small, and micro-enterprises — are co-signing this resolution, [and] urgently calling on your administration to address, without delay, the historic, massive, and unprecedented corruption scandal crippling our flood control and infrastructure projects,” the coalition said.

“Mr. President, we strongly urge you to act decisively to signal your administration’s genuine commitment to justice, integrity, and accountable governance,” they added.

The joint appeal from the 34 business groups follows a separate statement issued on 17 October 2025 by six organizations, including MBC and FINEX, expressing support for amendments to the country’s bank secrecy laws and for Ombudsman Jesus Crispin Remulla’s initiative to restore public access to the Statements of Assets, Liabilities, and Net Worth (SALNs) of public officials.