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Duterte: COA to blame for slow investments

/ 05:24 AM December 05, 2018

President Rodrigo Duterte on Monday said he would want to meet with officials of the Commission on Audit (COA), which he claimed was responsible for the gridlock preventing investments from coming into the country.

In a speech at the Christmas tree lighting ceremony in Malacañang, the President said the COA should be reasonable enough not to derail and negate contractual obligations.

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“There are so many things that we cannot understand with each other,” the President said. “There seems to be a gridlock on how things are run and even investments. It has stopped.”

He said the government had been seeking to improve the economy by attracting investments.

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But the COA, he Duterte said, had made several decisions blocking investments and projects.

Invent

“COA, if you are listening now, should be reasonable and sane enough to know that in our Constitution, impairment of the obligation of contracts are not allowed,” the President said.

“So instead of rendering an opinion that blocks the project, why don’t you just invent if you have to? Find the words to allow the investments here because we need the money and there are lots of people without jobs,” he added.

The President had earlier advised local officials to defy “stupid COA circulars.”

Presidential spokesperson Salvador Panelo said the President just wanted COA not to restrict investments.

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TAGS: COA, Commission On Audit, foreign investments, Rodrigo Duterte
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