The proposed extension of Martial Law until December 31 in Mindanao will not disrupt economic and other business activities in the region despite the on-going heavy exchanges of armed hostilities in Marawi City between soldiers and armed militants of the local Maute group.
Economic Minister Ernesto Pernia said that a possible martial law extension, even up to one year, won't have any consequential outcome on business activities in Mindanao and life on the island will be normal.
The Economic Chief was in Cagayan de Oro City for the consultation of the Northern Mindanao Regional Development Plan for 2017-2022. Pernia said that even in Cagayan de Oro City, the city seems not to be affected by the armed conflict, which is just less than three hours drive to Cagayan de Oro.
He countered different sectors opposing to Martial Law that "Martial Law is an environment that will make people in Mindanao safe in doing business. Martial Law will ensure people that their lives and businesses are safe."
When asked by Philippine journalists as to the intention of the proposed Martial Law extension, Pernia said that the government wants to ensure that no stone should be left unturned.
The Worldbank also said that fixing Mindanao's economy will be a key to the Philippine development. Mindanao provides at least 40% of the country's food requirement and is a source of agriculture products for export.
The government has allocated P20 billion for the rehabilitation of Marawi City and aside from this financial assistance, Australia, China, Japan, United States and European Union have committed to help the Southeast Asian country rebuild and rehabilitate the war-torn city.
A Philippine leading tycoon Lucio Tan also manifested his intention to help in the rehabilitation of houses and the involvement of the private sector in reconstructing the City.
Philippine President Rodrigo Duterte declared a 60-day Martial Law on 23 May, which is expected to end on 22 July. Duterte wanted to extend the Martial Law because it might not be able to quell the rebellion by the given deadline.