An influential business group said Monday the latest bombing incident in Mindanao has not shaken the resolve of businessmen to invest in the region.
Management Association of the Philippines president Perry Pe said the explosion at Roxas Night Market in Davao City, despite the enormity of damage on life and business, was a singular event that would have limited effect on the economy.
“The outcome of that event will be more evident on the tourism side. But business people will continue to do business. So far, we have not received any concerns from MAP members,” he said.
Pe said President Rodrigo Duterte’s immediate reaction in declaring the “state of lawlessness” was constitutional and within his powers as the president.
“He must have some information that we don’t. And he campaigned for law and order, that we will try to solve criminality,” he said.
Pe said the declaration of lawlessness was usually supported by an executive order that would give more muscle for such announcement.
MAP said a lot of businessmen would like to see criminality resolved. The six-month target period may not resolve the narcotics problem entirely, but it would somewhat minimize or neutralize drug peddling, the group said.
About 2,000 people were reportedly killed in drug busts and other drug-related operations over the last two months.
Pe said President Duterte was far from imposing martial rule as “he himself also knows the pitfalls of martial law.”
“He’s got too many Cabinet members there who are very knowledgeable of the legal parameters of what declarations like that will constitute. And he also knows very well the repercussion of such pronouncements,” he said.
MAP supports the president’s business agenda on strengthening the country’s infrastructure to resolve traffic woes and the ongoing efforts to reform the taxation system that would benefit not only businesses but also individual taxpayers.
The government is also closely monitoring the “ease of doing business” endeavor headed by the Trade Department.