Businessmen: Martial law sends good signal

Local businessmen yesterday lauded President Duterte’s declaration of martial law in Mindanao as part of his swift actions to address the situation in Marawi City despite admitting that doing so would impact businesses there.

“The President made a decision… That sends a good signal to the business community because he is very decisive, he acted on it fast and he went back to the area, to Mindanao, so that was very good,” Management Association of the Philippines national issues committee chairman Perry Pe said.

“This is terrorism, there are no ifs and buts about it. The moment you act on it decisively, that kills it right away and obviously that’s what the President did,” Pe added, noting that markets reacted positively, given that no change followed the declaration.

For business leaders, implementing martial law will certainly impact businesses in Mindanao but it will serve them better in the long run.

“It could be a welcome development if we can immediately abort all of these problems that are coming up now in Marawi. The soonest that this gets solved, the better,” International Chamber of Commerce of the Philippines directorgeneral Jess Varela said.

“Psychologically, it will affect but then the reality will play. The reality is that it’s the peace of mind and making the area more stable that is more important,” Valera added, emphasizing how consistency and predictability in business can be applicable in the situation.

“If you do not fix that as soon as pos- sible, then that is when businesses will get affected. That is why this is needed, especially if it is the way that we could address the problem at the soonest possible time and then that will be good for business,” Varela said.

Philippine Chamber of Commerce and Industry honorary chairman Sergio Ortiz-Luis said it would in fact be a “plus-point” for Duterte should he succeed in dissipating the terrorist group there.

“The intention is to clean the entire Mindanao so that these terrorists will have nowhere to go. I’m sure businessmen there are worried, but again, in the long run, if they see that this is meant to end the problem there, they will tolerate,” Ortiz-Luis said.

Meanwhile, Trade Secretary Ramon Lopez, who remained in Russia to meet with business groups there, said the Department of Trade and Industry would maintain “business as usual” status in the country and “isolated lawless violence like the one that happened in Marawi shall be quickly suppressed.”