October 24, 2017
MANILA – The National Economic and Development Authority (NEDA) sees further pickup in business and consumer confidence in Mindanao now that the Marawi conflict has ended and rehabilitation on the way.
Socioeconomic Planning Secretary Ernesto M. Pernia said investors who may have put on hold their plans to expand their business or set up new ones, as well as consumers who have postponed their purchases, can now carry out their plans with greater boldness and certainty.
“We are optimistic that the people of Marawi will be back on their feet as soon as possible. With this, we anticipate a renewed boost in business and consumer confidence in Mindanao,” Secretary Pernia said, adding that such could also translate to even better tourism prospects for the country.
The Bangko Sentral ng Pilipinas previously reported that business outlook for the fourth quarter of 2017 turned more positive, with the confidence index rising from 51.3 percent from 42.7 percent in the previous quarter.
Likewise, consumer sentiment turned more upbeat as the confidence index increased to 17.8 percent for the fourth quarter of 2017 from 13.6 percent the previous quarter.
“This confidence is expected to be reflected in the country’s Gross Domestic Product growth rate in the fourth quarter of 2017 and the succeeding quarters of 2018,” he noted.
NEDA has been working closely with Task Force Bangon Marawi (TFBM)—which was established by the President’s Administrative Order No. 3 as the inter-agency task force for the recovery, reconstruction, and rehabilitation of Marawi City.
NEDA, together with the Department of Finance and the Department of Budget and Management, is in charge of resource mobilization. It also leads the TFBM’s planning process and is currently integrating inputs of the Marawi City and Lanao del Sur local governments and the ARMM regional government in the rehabilitation plan.
“The government is committed to integrating crucial peace building activities in the recovery and rehabilitation program. The ensuing peacebuilding efforts will also help ensure stability in the Mindanao region and help attract longer-term investments and boost greater consumer confidence,” Pernia said.
Serving as key member of Disaster Rehabilitation and Recovery of the TFBM, NEDA provided a recommended framework which aims to build safer, adaptive, and disaster-resilient communities in Marawi.
It recommended that the Maranao culture be made integral in rebuilding Marawi and neighboring local government units, including concerns on overlapping land claims. This is apart from improving economic and social conditions and ensuring peace and security.
It suggested that maps containing, among others, proposed land-use and urban plans be produced.
Local government units, ARMM, and concerned national agencies have agreed to incorporate such analyses into their respective assessments.
“The rehabilitation and recovery of Marawi are gargantuan tasks which the government must see through. We should all work together to build a better Marawi,” Pernia said.