October 8, 2024 | 11:07am
MANILA, Philippines — President Ferdinand Marcos Jr. on Tuesday, October 8, signed the Self-Reliant Defense Posture Revitalization Act in a bid to make the Philippines less reliant on other countries amid geopolitical tensions.
Marcos signed the measure, now known as Republic Act 12024, amid China’s prolonged incursion in Philippine waters—and mounting international turmoil in Europe and the Middle East.
“This law goes beyond the development of weapons or equipment as it seeks to create the framework that makes us less dependent, more resilient, better prepared,” Marcos said.
The president called the measure a commitment to the long term growth of the country’s national defense industry.
“It’s a logical step forward for a country that finds itself in the fulcrum of geopolitical shifts and volatiles,” he added.
The law is said to strengthen the basis of the country’s defense through enhancing our research and production capabilities.
Marcos said that the law adds tax incentives for those who will invest in the Philippines’ defense postures, including tax breaks and government financing. It also prohibits the sale of defense materials to private entities to ensure that such technology will not be used against the public.
Sen. Miguel Zubiri, the measure’s author in the Senate, said that the measure was meant to lessen the Philippines’ reliance on foreign allies.
While the final law has yet to be uploaded on the Official Gazette, the approved version of the bill in the Senate also states that companies who want to sell arms to the Armed Forces of the Philippines must make the weapons in the Philippines and have local shops in the country.
“We hope to limit Philippine dependence on allies for the provision of defense requirements and develop the defense capability of the country, as well as reduce foreign exchange outflow, generate local employment opportunities and enhance technology transfer to the Philippines,” Zubiri said in 2023.
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