President Duterte won’t back down on his promise to correct all prejudicial government contracts with private entities despite reported concerns that some foreign investors are being turned off by his remarks.
In an interview with ABS-CBN Friday evening, Duterte said he was not afraid of losing foreign investors because his main concern was justice for the Filipino people.
“The thought that they will be getting out of the Philippines, fine, be my guest. I will not be intimidated or even fear the possibility of reduced investment in this country. What I’m after for is justice for the Filipino people,” he said.
“For all I care, they can all withdraw but I still have to maintain what’s a matter of dignity for us,” he added.
Early this week, real estate and construction firm DMCI Holdings, Inc., chairman Isidro Consunji said the government’s move to draw up a new water distribution agreement with Maynilad and Manila Water was sending a negative signal to investors.
“All business siyempre (obviously) don’t like volatility. Of course, when there is uncertainty, sentiment turns negative. [A] Situation like today creates uncertainty,” Consunji said.
Despite this, President Duterte said the people can expect him to correct all onerous contracts until the day he steps down in 2022.
“All contracts that are prejudicial to the Filipino people will be corrected. ‘Yan ang maasahan mo (That’s what you can expect) within the limited time left for me in office,” he said.
“Eh, talagang niyari tayo ng husto, eh (We were really duped). If I will file charges, I will include all in both sides. They cannot claim that it underwent into a process,” he added.
Duterte started to call out concessionaires Maynilad and Manila Water following the water crisis that hit Metro Manila in March last year. The crisis prompted Duterte to order a review of the contracts the companies have with the government. He, later on, said he found out there were onerous provisions in the contract.
Duterte then advised Maynilad and Manila Water to accept the new distribution agreement crafted by the government or risk a takeover of their businesses. He said he told lawyers to present the new contracts to the two companies Wednesday.
“Now they must already have the copies of the proposed contract, as corrected. I suppose that if they are willing to accept the conditions that are being laid down there in the proposal, I think we can negotiate again,” Duterte told ABS-CBN.
“But if you do not sign the contract and there is no contract because we have terminated it for all intents and purposes, I will take over both Maynilad and Manila Water. I will nationalize them,” he added. (Argyll Cyrus Geducos)
