The leadership of major business organizations yesterday urged the government to prosecute and imprison ranking officials implicated in the flood control scam, stating that decisive action is necessary to restore public trust, reassure investors, and boost the country’s slowing economic growth.
Sergio Ortiz-Luis Jr., president of the Employers’ Confederation of the Philippines (ECOP) and chairman of the Philippine Chamber of Commerce and Industry (PCCI), said the business sector awaits concrete actions and legal outcomes in the cases filed in connection with the controversy.
“There should be someone sued and jailed, and Filipinos need to see the issue addressed. The search is for the mastermind, not just anyone,” he said.
Ortiz-Luis said that resolving the political turmoil would help reverse the current slowdown in growth.
“We can still catch up. Our [annual] GDP over the last 25 years has always been at five percent; no matter what happens in the Philippines, this is not irreversible. What’s important is to convince investors that we are solving the problem,” he pointed out.
The Philippine economy grew four percent year-on-year in the third quarter of 2025, slower than the 5.2 percent recorded in the same period in 2024.
Despite the controversy, Ortiz-Luis said the business sector continues to support the Marcos administration.
“You know the business sector, we want stability (to the) economy and the citizenry, so we support the administration. We just ask that this problem be solved immediately. We don’t have time to dilly-dally anymore; people are impatient,” he added.
Ortiz-Luis, who also heads the Philippine Exporters Confederation Inc., welcomed the United States’ decision to exempt several Philippine agricultural exports from tariffs.
The US government announced on November 14 that the newly exempted products include coconut products, bananas, pineapples and pineapple products, dried tropical fruits, and coffee.
Editor’s Note: This is an updated article. Originally posted with the headline: “Business leaders demand imprisonment of officials in flood scam to restore trust”
