MANILA – The European Chamber of Commerce of the Philippines (ECCP) said Tuesday the deadly bombings in Jolo, Sulu over the weekend are scaring investors from doing business in the Philippines.
At least 21 people were killed and almost 100 others were wounded in the bombing attacks at Mount Carmel Cathedral in Jolo on Sunday morning.
Authorities said that an Abu Sayyaf subgroup – the Ajang-Ajang group – were likely behind the attack, with CCTV footage supposedly showing one of the three members of the group detonating the bomb in the vicinity of the church at 8:30 a.m.
“This is not a positive – or encouraging companies to come to the Philippines,” ECCP president Nabil Francis said in a press conference in Makati City.
“What we need is stability. Those things are of course scaring investors,” Francis said.
Security forces placed Sulu province’s Jolo under lockdown after the twin blasts that killed more than 20 people and injured more than 100 others.
Bombing incidents create uncertainties that affect investor sentiment, particularly on investors who do not know the Philippines yet, ECCP executive director Florian Gottein said.
“It somehow seems to give a negative impression of the country, though it is far away from Manila – but it’s quite safe here,” Gottein said.
At this juncture, Francis said the ECCP will exert efforts to improve the reputation of the Philippines in the eyes of new investors.
“As ECCP, it is our role to improve the reputation of the Philippines,” he said. (GMA News)
