DTI’s Lopez: Investors still bullish despite martial law

  • Page Views 157
  • Investors remain bullish about the Philippines despite the imposition of martial law in Mindanao amid the battle for control of Marawi City between government troops and the Islamic State-linked Maute group, the Department of Trade and Industry (DTI) said on Tuesday.

    Rather than hinder business, martial law has in fact assured the safety and security of investors, Trade Secretary Ramon Lopez said in a press conference in Malacañang.

    “We’re pleasantly surprised that on the business we are not affected, because the investors they really look into the longer term potential of a country and the fundamentals,” Lopez told reporters.

    “As we say, we are on a breakout. Investments are up, exports are up, consumer—the consumer bases are getting bigger, we have a young consumer and they are now getting more employed. So, it’s many more years of enlarging consumer base. So very bullish ang mga investors locating here,” he added.

    The Cabinet official said he has not heard of any company pulling out or postponing investment in Mindanao.

    Lopez noted the feedback from businesses is quite good. Distributors in Iligan and Cagayan de Oro and nearby towns “say they like martial law.”

    “First, they feel more secure and safer. Of course, the checkpoint might require a little more time, but they can live with that, they said. They’re supportive. And they said, it’s business as usual for areas outside Marawi,” he added.

    The DTI has not received reports that supply chains were affected and prices have gone haywire in Mindanao.

    It’s not true that prices of goods have skyrocketed in Marawi and nearby areas, Lopez said.

    “We went into the groceries, sa loob ng public market—as you know wholesalers ‘yan— and they all sell within the SRP. So, everybody’s following the suggested retail price and the price freeze that is ongoing right now in Mindanao,” he added.

    A price freeze on basic necessities and prime commodities was automatically enforced in Mindanao when President Rodrigo Duterte declared martial law on May 23.

    Duterte declared martial law after deadly clashes between government troops and Maute militants in Marawi City broke out.

    by: C. Valiente, MT

    Share

    New Posts Recently publish post More

    • 17 October 2017
      2 days ago No comment

      Block by Block Explores Immigrant Experience

      Block by Block took place on Sunday, September 24, in one of Canada’s oldest immigrant neighbourhoods, Strathcona, Vancouver. The Block Party explored how immigrants managed to find a sense of belonging in Canada and engaged the local community in conversations about what it means to be a new settler ...

    • 17 October 2017
      2 days ago No comment

      Filipino-Australian Artists Come to Vancouver

      Emily Carr University of Art + Design is pleased to welcome Filipino artists Isabel and Alfredo Aquilizan to Vancouver as the recipients of the Fall 2017 Audain Distinguished Artist-in-Residence. Isabel and Alfredo Aquilizan currently live and work in Brisbane, Australia. They have been collaborating for decades and through their ...

    • 17 October 2017
      2 days ago No comment

      BoI reports investments up by 33%

      Investment pledges climbed 33 percent in the first nine months to P381.17 billion from P286.44 billion a year ago, the Board of the Investments said Tuesday. Trade Secretary and BoI chairman Ramon Lopez said the amount represented about 76 percent of the agency’s investment target of P500 billion for ...

    • 14 October 2017
      5 days ago No comment

      Pinay model plays role in raging Hollywood sex scandal

      Her Facebook fan page describes her as a mix of different nationalities: Filipino, Italian, Spanish, and Greek. Meet Ambra Battilana Gutierrez, the Filipino Italian model who had accused American film executive Harvey Weinstein of sexual harassment. Weinstein was a high-profile producer and executive, and now facing several allegations of ...

    • 14 October 2017
      5 days ago No comment

      Rebel in the Rye (PG )

      Catch 22! Sooner or later we all go to school. And love is gonna get ya – to coin a line from a classic 70s Rock tune. Love and school combine as Mongrel Media delivers the goods with Rebel in the Rye. Yes, countless films with school or literature ...

    %d bloggers like this: