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    Posted March 27, 2014 by

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    Peace deal will draw investments to Phl

    A Philippine lawmaker on Thursday said the signing of the peace agreement between the Moro Islamic Liberation Front (MILF) and the government will draw more foreign direct investments to the country.
    “Foreign investors need a peaceful and business-friendly environment before they set their businesses in the country, especially in the Bangsamoro region. The challenge for the peace pact is to raise the level of investments in the region,” Valenzuela City Rep. Sherwin Gatchalian said.
    Gatchalian also said the peace pact is seen to pave the way for an environment that will allow economic development to begin, following the decades of conflict in Southern Philippines.
    “The peace pact will guarantee that the Bangsamoro will be a fertile ground for the much-needed investments,” he said.
    According to a special report of the World Bank Institute, the years of discord “amount to a period in which human or economic development is suspended or, in some cases, even reversed.
    Gatchalian noted that peace will set an environment hospitable to economic activities. Former International Monetary Fund (IMF) chief Dominique Strauss-Kahn himself tied peace and economic stability, saying: “Peace is a necessary precondition for trade, sustained economic growth, and prosperity. In turn, economic stability, and a rising prosperity that is broadly shared—both within and among countries—can foster peace.”
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