Businessmen in ‘watch and observe’ mode coz of Marawi crisis

DAVAO CITY (MindaNews / 21 June) – A commercial real estate consultancy firm in the Philippines said that property developers and companies are not pulling out their investments in Davao City but acknowledged that the Marawi crisis and the declaration of martial law have put them in a “watch and observe” mode about coming to Davao City.

Property Interactive Marketing Enterprise (PRIME) Philippines founder and managing director Jettson Yu told “Wednesday’s at Habi at Kape” that the ongoing conflict in Marawi City between government forces and the Maute Group has affected the perception of investors on Davao but added they are not cancelling but only postponing their entry here.

“There is definitely an effect. But from our investors from Luzon, we did not get a clear signal that they will not push through with their investments, but rather just postponing it. Everyone is in a watch and observe mode,” he said.

Yu said they have commended the city’s peace and order condition and encouraged investors to experience Davao, telling them that the city remains to be safe for investors amid the skirmishes in Marawi.

He said the city’s economic fundamentals have remained stable.

Yu said that if only the investors, either foreigners or those from Manila, could see for themselves what the locals are experiencing without the “exaggeration” they get from the news, then business should go as usual.

“Normally, what they see are protesters from Luzon complaining ‘stop martial law’,” he added.

Yu opined that most of the businessmen in the country’s capital have favored President Rodrigo R. Duterte’s declaration of martial law because it will effectively contain the terrorists and prevent them from launching attacks.

Duterte declared a 60-day martial law in Mindanao on May 23.

He claimed businessmen want martial law in place to be able to bring back normalcy in some parts of Mindanao amid the ongoing crisis in Marawi.

Yu said that all the developers and businessmen they talked to “wanted martial law in place because they feel that it at least stops terrorist attacks somehow,” whereas it would be difficult to catch terrorists if lifted. (Antonio L. Colina IV / MindaNews)