Businessmen shrug off woes on
martial law declaration
MANILA, June 2 -- An official of a Philippine-based investment house
remains optimistic on the domestic economy amid the martial law declaration
in Mindanao and some peace-and-order-related incidents.
BDO Capital & Investment Corp. (BDO Capital) president Eduardo V. Francisco
said he does not have any qualms on the ongoing martial rule in southern
Philippines "as long as civil rights and citizens' right are followed."
He traced this optimism to authorities' statements saying the Duterte
government will heed the law vis-a-vis the martial law declaration.
"While we don't really know what's happening from Manila we hear from our
Mindanao clients that they welcome martial law because it gives them
stability," he said.
President Rodrigo R. Duterte declared martial law in Mindanao on May 22 to
help government troopers contain members of the terrorist Maute Group in
Marawi City as soldiers target to arrest a leader of another terror group,
Isnilon Hapilon of the Abu Sayyaf Group (ASG).
The military has said that the operations against Maute group is nearly at
Francisco said market players have shrugged off worries on the martial law
declaration, citing that the local bourse even posted increases.
"That shows that the market is deep and the investors can tell the
difference between an isolated event and a big problem," he added. (Joann