Philippines' finmin says economy not threatened by martial law

Philippine Finance Minister Carlos Dominguez on Thursday tried to allayed investors' fears over President Rodrigo Duterte's decision to impose martial law on the island of Mindanao, saying the local economy remains intact.

"The economy is in no way threatened by the imposition of martial law. The military is in full control of the government installations and major infrastructures on the island," Dominguez said in a statement.

"Martial law will ensure that these facilities are protected so that business transactions will be unaffected," he said.

Duterte placed the southern island of Mindanao under military rule on Tuesday, after a fierce bout of fighting erupted during a raid by security forces at a hideout of Islamic State-linked militants.

(This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)