Securities and Exchange Commission (SEC) chairperson Francis Lim on Wednesday flagged the impact of corruption issues on Philippine investments, saying that “weak integrity” has caused investors to flee and wipe out P1.7 trillion in market value in just three weeks.
Speaking before the Financial Executives Institute of the Philippines (FINEX), Lim cited the need to innovate without losing the public’s trust, given the recent spotlight on corruption, specifically in flood control projects, which have now been the subject of investigation by both chambers of Congress and an independent commission.
“We are reminded of that challenge in very real terms today.
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