Manila: Investors are closely watching the Philippine government's crackdown on corruption, particularly in flood control projects, which is seen as key to restoring business confidence. Presidential Communications Office (PCO) Undersecretary and Palace Press Officer Claire Castro, during a Palace briefing on Friday, said the government is serious in addressing corruption and the misuse of public funds.

According to Philippines News Agency, Castro said while a handful of suspects have so far been arrested and detained in relation to the flood control mess, investors want to know how the current administration addresses the issue. She emphasized that if the administration can demonstrate its commitment to holding those involved accountable, it would enhance trust not only among investors but also among the public.

When asked if other agencies besides the Department of Public Works and Highways (DPWH) are being scrutinized, Castro said no specific agencies have been named, but emphasized the President's directive for all government bodies to uphold integrity. The President expects all agencies to work diligently, uphold the law, and avoid becoming involved in corruption issues, as those found guilty could face charges.