G.A. Viray
The tragedy at Mamasapano, Maguindanao has shook the nation which arised to many issues and concerns that the country is yet to face. With the death of the 44 PNP-SAF troops, the country still mourns and the incident has brought up a lot of negative for the country. Has it also negatively affected our promising economy? Malacanang says it has not.
Presidential Spokesperson Edwin Lacierda said on Monday that the Mamasapano incident certainly has emotional effects but it has no negative effects in the business sector.
According to Business Mirror, Lacierda stated that despite the Mamasapano tragedy and how it had negatively affected the country emotionally, the business sector still remains positive and the Philippine Stock Market is at an “all time high”.
Lacierda also mentioned that there has not been any indication yet that the Mamasapano tragedy has caused anything that would negatively affect the economy.
Certainly, this (Mamasapano incident) has an effect on the state of bereavement and mourning for our Fallen 44, but we have not seen any indication otherwise on the business market—anything negative in the business sector.
In addition, Lacierda also cited that the Philippine Stock Market registered its highest index points to date at 7689.90 for January 2015.
Meanwhile, a business leader says the incident has been taking a toll in the investment sector. According to GMA News, Bangasamoro Business Club President Datu Muhamad Omar Pasigan told the AFP that foreign investors have been putting off their investments since the Mamasapano incident happened. Pasigan also stated that security is very important for the investors and that the Mamasapano incident is a threat for their business’ security.
They are willing to come here and invest, but then this fighting happened.
In addition, Pasigan also mentioned that there has been at least three foreign investors who have put their investments on hold since the Mamasapano clash and it has already cost the country billions of pesos in investment.
However, currently, Pasigan and his group are searching for investors to partner with Filipino businessmen.
On a final note, Secretary Arsenio Balisacan of Economic planning seemed to agree with Pasigan on the negative perception investors have in the Mindanao region.
The perception of risk is bad for business… At this point, (the fighting) doesn’t have any significant impact but again it’s closure we need. It’s a missed opportunity if we don’t resolve this problem at the soonest time possible.
As the country is hoping for a better economy in 2015, the Philippines may just have to wait if there will be any negative impact of the Mamasapano clash to the business sector. But it is certain that this issue of foreign investors holding off their potential businesses in the country should be addressed by the government.
