Biz climate in Mindanao still upbeat despite ML

NEARLY a year after the declaration of Martial Law in Mindanao, the Mindanao Development Authority (Minda) said they have noted that the business climate in the island remains upbeat.

"[The business climate in Mindanao] has never been better," assistant secretary Romeo M. Montenegro, Minda deputy executive director, said in an interview with SunStar Davao at the sidelines of the launch of the Philippines Mindanao Jobs Report last April 6, 2018 at the Marco Polo Davao.

He said Minda continues to see an influx of investors and an upswing of investor interest with many looking at opportunities in real estate.

Montenegro said the Marawi crisis last year was a temporary setback to the business climate of Mindanao as it created a perception of instability among investors.

However, he said they did note that Marawi City and its neighboring towns and provinces were heavily affected during the crisis.

In terms of sectors, Montenegro said the tourism sector was negatively affected by the crisis but the other sectors in Mindanao continue to perform well.

For her part, Department of Tourism assistant secretary Eden Josephine David said in a separate interview noted that the industry was able to somehow recover by the end of 2017 despite Martial Law.

Last May 23, 2017, President Rodrigo R. Duterte, who was in Moscow, Russia to meet Russian President Vladimit Putin, declared Martial Law in Mindanao following the attack of the Maute group in Marawi City, Lanao del Sur on the same date.