Ingrained corruption hard to curb — PBBM

SINGAPORE — With corruption draining the country’s coffers for decades, President Ferdinand Marcos Jr. said the problem must be eliminated not only in government but also in the private sector, since it is a major hurdle for foreign investment.

In 2025, shortly after delivering his State of the Nation Address (SoNA), Marcos disclosed to the media that some lawmakers allegedly acted as contractors for flood control projects and conspired with erring officials of the Department of Public Works and Highways, resulting in billions of pesos in government funds being lost.

Forbes editor-in-chief Steve Forbes asked Marcos how his disclosure was playing out during the Forbes CEO Global Conference 2026 at the Shangri-La Singapore.

Corrosive effect

“Well, immediately, the corrosive effect and influence of corruption has always reared its ugly head at every level. And I must say it’s not only in government but it’s in all sectors of society. And that’s why we have tried to initiate a change. It’s not just the systems, although that’s part of it,” he said.

“It is really changing the culture of the way people say that this operates. What was acceptable behavior before, we have to put into people’s minds, into people’s thinking, that this is no longer acceptable. This cannot be done,” he added.

He said the much harder problem is changing the way people, especially politicians, think.

Marcos noted that digitalization has also played an important role in curbing corruption in government systems.

“But still, a determined criminal mind will find ways around any safeguards that you put in. And therefore, it is that culture, the thinking, the way people approach any activity. And instead of approaching it and trying to say, how do I make money on the side with this? It’s how do I make this work? How do I make it successful?” he said.

The 24th edition of the Conference takes place in Singapore from 7 to 8 October, with the Economic Development Board of Singapore serving as host sponsor, scheduled just before the Formula 1 Singapore Grand Prix.