1) install Freddy Pharkas using the GOG installer.  (or any other installation technique that currently works)

2) Download and install ScummVM from the ScummVM website downloads link

3) Run ScummVM.

4) Choose ADD button

5) point it to where you had GOG install the Freddy Pharkas Philes

6) Select Freddy Pharkas in the ScummVM list

7) Choose OPTIONS

8) Select the AUDIO tab

9) Select the radio button that says "BOTH"

Eh voila, she is done!

You will not get ALL the text but you will get most of it.  ScummVM does not seem to recognize where there are blocks of linked text that would normally be played one after the other with no user input in the game, so you'll only get the first block of text in 
those cases.  But you'll get most of it.

You will need to run it from ScummVM instead of DOS Box that comes with the GOG version.