“Let me allay the fears of foreign investors as well as Filipino businessmen. You don’t have to worry about the review. Kasi if there’s nothing wrong with your contract, there’s nothing to worry about,” Palace spokesman Salvador Panelo said in a press briefing.“The President will certainly respect the sanctity of contracts except only [if] the very provisions… appears to be contrary to law, contrary to public interest and public policy. Otherwise, wala ‘yan , ganun pa rin ‘yan ,” he added.
The National Economic and Development Authority earlier said the recent moves of the Duterte administration to review business contracts have caused concern from the business sector and credit rating agencies.
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