Philippines Bolsters Defence with New Self-Reliant Law

Philippine President Ferdinand Marcos Jr signed a bill to enhance the country's defence industry, aiming to reduce reliance on imports. The law provides fiscal incentives for investment in defence technology, focusing on R&D and domestic production to modernize and sustain military capabilities against evolving security threats.

In a strategic move to fortify national security, Philippine President Ferdinand Marcos Jr signed into law a bill designed to advance the country's defence industry. The legislation is intended to decrease dependence on foreign imports and craft defence equipment tailored to the nation's unique security needs.

Central to the law's objectives is the promotion of investment in defence technology, offering incentives like tax breaks and government-backed financing to stimulate growth in the sector. Prioritizing research and development (R&D) is expected to play a crucial role in meeting evolving threats, including those of an asymmetrical nature.

The newly enacted law is set to integrate seamlessly with ongoing military modernization, particularly as the Philippines navigates rising tensions in the South China Sea. The government has earmarked $35 billion over the next decade for this modernisation, focusing on manufacturing, maintaining, and upgrading vital military equipment.

(With inputs from agencies.)