outbrain
Close  
BUSINESS IMPACT

Casualties of Marawi war: CDO theme parks

/ 03:25 AM June 12, 2017

Among the casualties of the war in Marawi City were plans to build two theme parks, each worth around P1 billion, in Cagayan De Oro City, according to an official of the Philippine Economic Zone Authority (Peza).

Elmer Francisco, adviser to the director general of Peza for North America and Asean, said proponents of the theme parks—Cartoon Network and Six Flags—had planned to build in Cagayan De Oro City, but changed plans because of the ongoing siege of Marawi by terrorists belonging to the Maute group and Abu Sayyaf.

ADVERTISEMENT

The proponents, Francisco said, had instead expressed interest in building their theme parks in suitable locations in Central Luzon.

“It’s regrettable,” Francisco told Inquirer. He, however, expressed relief that “they did not totally back out.”

FEATURED STORIES

“We were able to redirect them to Central Luzon,” he said. “There will still be many Filipinos who will benefit from the projects,” he added.

“But it is a big loss to Cagayan de Oro and the rest of Mindanao,” said the Peza official.

Losses

Cagayan de Oro, he said, lost “tens of thousands of potential job opportunities” and revenue from the “indirect impact” of the projects on hotels, restaurants and other businesses.

“Since we’re talking about two theme parks, that’s times two,” he said.

The losses, he said, included potential earnings from the construction of the theme parks which would have taken at least three years.

“That’s automatic jobs for Filipinos,” he said. “Once the theme parks become operational, these are more jobs for Filipinos,” he added.

ADVERTISEMENT

Peza, he said, had been trying to generate jobs in Mindanao, heeding policy to bring employment closer to where workers lived, especially in rural areas, and to reduce congestion in Metro Manila.

Francisco said he and many investors welcomed  President Duterte’s declaration of martial law in Mindanao, though.

But the continued operations of terror and crime groups “are making our jobs at Peza harder,” he added.

He said one of martial law’s biggest benefits would be to swiftly restore peace and order in areas struck by terrorist groups.

Read Next
EDITORS' PICK
MOST READ
Don't miss out on the latest news and information.
View comments

Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.

TAGS: abu sayyaf, Marawi City, Maute group, theme parks
For feedback, complaints, or inquiries, contact us.


© Copyright 1997-2020 INQUIRER.net | All Rights Reserved

We use cookies to ensure you get the best experience on our website. By continuing, you are agreeing to our use of cookies. To find out more, please click this link.