MANILA — The Philippines continues to attract investment pledges from foreign investors despite the ongoing investigation into alleged corruption in flood control projects, Special Assistant to the President for Investment and Economic Affairs Frederick D. Go said.

“On investment pledges, I don’t think we have lost anything. The pledges continue to come in,” Go said in a Palace press briefing.

Go denied reports of a supposed stock market collapse linked to the infrastructure irregularities, calling it “confirmed fake news.”

“As a matter of fact, we are now transmitting to the Office of the President the approval of the first beneficiary of the CREATE MORE Act, which is an investment from a Korean company of over one billion dollars,” he said, referring to Republic Act No. 12066 or the Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy.

Go added that no foreign investor has withdrawn from the country amid the ongoing probe.

“I don’t think anybody has pulled out. I think sometimes when there is unpredictability in the environment, people might temporarily think about their investment projects,” he said.

“But we’re quite confident that when this is all resolved, they will all come back. So, they have not pulled out. They will continue with their projects,” Go added.