Cebu biz sector backs Mindanao martial law

Business leaders in Cebu are backing the government's declaration of martial law in Mindanao, saying it is the appropriate response to terrorism.

"It's the right decision at the moment. It comes at a time that the world's biggest threat is terrorism, and it shows decisiveness on the part of our President," said Glenn Anthony Soco, president of the Mandaue Chamber of Commerce and Industry.

"The markets are reacting favorably to the declaration of martial law in Mindanao. We think that this would not have any negative effect on the image of the country as an investment destination," he added.

As to the President's statement that the declaration might be extended throughout the country, Soco said, “Anything is possible really at this point. Peace and order is really of primary importance if we are to achieve normalcy and sustained growth."

But Cebu Business Club president Gordon Alan Joseph was dis- mayed over Duterte's statement later yesterday afternoon that he might extend the declaration throughout the country.

"This is not welcome news. History has a way of repeating itself," said Joseph.

Joseph, also honorary consul to the Netherlands, viewed martial law in Mindanao as an appropriate response at this time.

Joseph said this may give Duterte the opportunity he needs to solve this multi-faceted problem, which is aggravated by corruption, the seemingly poor capabilities of security forces, poverty, and lawlessness, among others.

"This (martial law declaration) will affect tourism and business and I do hope the government will finally act with strategic decisiveness. By strategic, I mean act based on short to long-term objectives that go beyond military action. Violence alone will not solve this problem," said Joseph.

Financial markets recovered from early losses at the start of trading Wednesday morning. The Philippine Stock Exchange Index was up 0.33 percent to 7,837.82.