European investors wary over Jolo bombing, martial law
MANILA, Philippines – The European Chamber of Commerce of the Philippines (ECCP) said the bombing of the Jolo Cathedral in Sulu and the martial law in Mindanao could scare off businessmen from investing in the region.
ECCP president Nabil Franci said on Tuesday, January 29, that the security situation is a "layer of complexity for investors."
"If you are an investor, you want to come [to Mindanao], there is the martial law there. The first question is, 'Is it safe to invest? I'm going to bring a lot of money in the country, is there stability?'" Francis said.
"This (the Jolo bombing) is not a positive or encouraging companies to come to the Philippines," he added. (READ: What we know so far: Jolo Cathedral bombing)
Two bombs were detonated consecutively at the Jolo Cathedral last Sunday, January 27, leaving at least 23 people dead and 109 others injured. The death toll rose as of February 4.
Martial law in Mindanao was extended for the 3rd time until the end of 2019, with the Duterte administration saying it would help contain insurgency and terrorism in the region. – Rappler.com