Lifting of Proclamation 55 in Mindanao Expected to Attract Investments

Socio-economic and business leaders in Mindanao are expecting a surge in investments in the Southern Philippines following the lifting of Proclamation 55 issued by former President Rodrigo R. Duterte, which placed the entire island under a “state of national emergency on account of lawless violence .” Secretary Mabel Sunga-Acosta, chair of the Mindanao Development Authority (MinDA), said during the Kapehan sa Dabaw on Monday that with President Ferdinand Marcos Jr.

lifting Proclamation 55, Mindanao offers a “golden opportunity” for foreign and domestic investors to consider the island as a key investment destination. She said the lifting is a “good signal” to the international community, sending the message “that there is no state of lawless violence anywhere in Mindanao.” Marcos issued Proclamation 298 last July 25 as the prevailing conditions for which Proclamation 55 was issued “have been significantly mitigated or reduced.” The lifting was also intended to “boost economic activity and hasten the recovery of the local econom

Source: News Formal (newsformal.com)

Mindanao Investments Proclamation 55 National Emergency Lawless Violence Economic Activity Recovery

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