Philippine clashes start to worry investors

Mindanao clashesFierce fighting between government troops and Muslim rebels on the Philippine southern island of Mindanao that left at least 60 dead is increasingly worrying investors, raising concerns about that region’s stability and reputation as one of Asia’s hottest economies.

The standoff involves Philippine forces killing or capturing 100 Muslim rebels from a militant group that had been holding scores of people hostage in Zamboanga City. Government troops have closed in during the past week, responding to the rebels entering the trading hub on September 9.

The Philippines has been lauded lately as a bright spot among emerging markets. Particularly, the fertile Mindanao region contributes 15 per cent to the Philippine economy, and there have been some notable investment stories there in the recent past.

The Zamboanga peninsula alone contributed little to the Philippine economy at 2.1 per cent last year, but led Mindanao’s economic expansion, having grown the fastest at 12.4 per cent among the country’s 17 regions.

However, the drawn-out standoff is making investors skeptical about doing business in the area, saying that the country could risk an economic fallout.

Sergio Ortiz-Luis Jr, vice chairman of the Philippine Chamber of Commerce and Industry, said the fighting could undo efforts undertaken so far to recast Mindanao’s image from a war-torn area to an investment and tourism destination.



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Fierce fighting between government troops and Muslim rebels on the Philippine southern island of Mindanao that left at least 60 dead is increasingly worrying investors, raising concerns about that region’s stability and reputation as one of Asia’s hottest economies. The standoff involves Philippine forces killing or capturing 100 Muslim rebels from a militant group that had been holding scores of people hostage in Zamboanga City. Government troops have closed in during the past week, responding to the rebels entering the trading hub on September 9. The Philippines has been lauded lately as a bright spot among emerging markets. Particularly, the...

Mindanao clashesFierce fighting between government troops and Muslim rebels on the Philippine southern island of Mindanao that left at least 60 dead is increasingly worrying investors, raising concerns about that region’s stability and reputation as one of Asia’s hottest economies.

The standoff involves Philippine forces killing or capturing 100 Muslim rebels from a militant group that had been holding scores of people hostage in Zamboanga City. Government troops have closed in during the past week, responding to the rebels entering the trading hub on September 9.

The Philippines has been lauded lately as a bright spot among emerging markets. Particularly, the fertile Mindanao region contributes 15 per cent to the Philippine economy, and there have been some notable investment stories there in the recent past.

The Zamboanga peninsula alone contributed little to the Philippine economy at 2.1 per cent last year, but led Mindanao’s economic expansion, having grown the fastest at 12.4 per cent among the country’s 17 regions.

However, the drawn-out standoff is making investors skeptical about doing business in the area, saying that the country could risk an economic fallout.

Sergio Ortiz-Luis Jr, vice chairman of the Philippine Chamber of Commerce and Industry, said the fighting could undo efforts undertaken so far to recast Mindanao’s image from a war-torn area to an investment and tourism destination.



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

$
Personal Info

Donation Total: $10.00

 

 

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