Economy

Martial Law no effect on Davao biz

June 5, 2017 By

Business activities in Davao City remain unaffected by Martial Law — with no establishments terminating their operations or investors backing out, the Davao City Investment and Promotion Center (DCIPC) said.

DCIPC head Lemuel Ortonio admitted that businessmen had earlier expressed some concerns related to the 60-day implementation of Martial Law. However, these concerns had already been addressed and clarified with the stakeholders.

“We already have clarified some of the concerns of the business sector like the lockdown or if we have a curfew here,” Ortonio said. “There was an initial reaction but eventually, we have cleared it up,” he added.

Ortonio said the interest of investors in Davao City did not wane.

In fact, he said the DCIPC receives at least two investment inquiries each week.
Among those who recently inquired about potential areas of investment in the city were businessmen from China and Korea.

In the case of foreign investors, DCIPC constantly updates on the security situation in the city.

“We constantly update them of our security situation here, they have also realized that the implementation of Martial Law is also for their own benefit since it will ensure their safety once they visit Davao City,” Ortonio said. CIO