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Mindanao investments, tourism – senator ‘ tag=’h3′ style=’blockquote modern-quote’ size=” subheading_active=’subheading_below’ subheading_size=’15’ padding=’10’ color=” custom_font=”]
By Prince Golez, Manila Reporter
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MANILA – Following the extension of martial law in Mindanao until Dec. 31 this year, economic managers have been urged to take safeguard measures to improve investments flows in the country.
Citing data, Sen. Joel Villanueva said that Mindanao accounts for 5 percent of proceeds from the tourism sector which then makes up 20 percent of the economy.
“Pagka nagtuloy-tuloy ang martial law hanggang December 2017, some other countries might issue travel bans. Are we ready for this? May buffer ba tayo? ‘Yung Davao Chamber of Commerce nag-issue na sila na tinatamaan na sila doon sa kanilang turismo. I just want to ask how we are preparing for this,” Villanueva said.
He also noted that investments in Mindanao suffered from 63 percent cut according to the Board of Investments.
But, Sec. Ramon Lopez of the Department of Trade and Industry cleared that the martial law declaration will not dampen confidence among investors.
“Sa larangan ng investment, lahat po ng aming nakakausap ay walang nararamdamang panganib at pag-aalinlangan pagdating sa investment decision kasi ang investment po ay naka-base sa long-term prospects ng pag-nenegosyo at mga investment fundamentals,” Lopez said.
The secretary claimed that the investors are more concerned on the crisis in Marawi City and not on the imposition of martial law.
“In fact, they view martial law as giving extra protection. It’s making the environment safer. It’s not Martial Law they are concerned about, it’s terrorism,” he added.
While there were reported cancellations of flights to Mindanao, an official from the Department of Tourism also said the number of foreign tourists showed a 19 percent increase from January 2017 to May 2017.
Villanueva believes that the government should “double their efforts in boosting tourism in other regions like Luzon and Visayas” if the declaration of martial law in the region has indeed affected the local economy and the tourism sector.
“In times like this were an on-going conflict persists in one of our regions, the people who become the most affected are its residents. If the economic development in Mindanao would suffer, people might be left with no sustainable jobs,” the senator said.
“The challenge for our economic managers is to ensure economic activities in the region would continue despite the crisis. We would remain vigilant and continuously monitor the initiatives that our economic managers have committed to do.”/PN
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