Economic boom seen after Marawi crisis

WHEN the war ends in Marawi City, experts predict an economic boom, residents are urged to take the opportunity to recover from loses.

Davao City Chamber of Commerce and Industry Inc. board member John Carlo Tria, during the weekly business forum at Habi at Kape in Abreeza Mall, said that the rehabilitation effort will open for a lot of opportunities, especially to those who can work with construction, and suppliers of construction materials.

Zia Alonto Adiong, the spokesperson of the Lanao del Sur provincial crisis management committee, said they have already estimated that around 30 percent to 40 percent of Marawi City was destroyed by the ongoing war between terrorists Maute Group and the Armed Forces of the Philippines (AFP).

“We are talking about the city center, we are talking about where the socio-economic life really is concentrated so we are talking about schools, we are talking about private and civilian properties, we are taking about markets,” Adiong added in an interview with ANC.

"Just imagine how much it would cost to rebuild a city," Tria said.

Tria also added that it might also help spike the region's Gross Development Product (GDP) contribution to 1 percent from their 2016 contribution of 0.6 percent as indicated in the Philippine Statistics Authority's (PSA) most recent data.

This effect is expected to boost the confidence of the Marawi residents whose lives were gravely affected by the war.

Most of Marawi City residents who took temporary shelter in Iligan City has created a migration initiated boom as hotel, restaurant, and apartment owners disclosed that they have been fully occupied for more than a month now.

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