It has been eight years since the Philippines obtained victory from the arbitral tribunal against China’s massive claims in the South China Sea, a conduit for more than $3 trillion in ship-borne commerce.
Under the administration of President Ferdinand ”Bongbong” Marcos Jr., Chinese forces have been more aggressive and hostile against Philippine troops, with actions involving shadowing and ramming of Filipino vessels and the dangerous water cannon incidents that hurt local servicemen.
Unlike his predecessor, Rodrigo Duterte, Marcos didn’t appear very warm in his relations with China. He even blatantly condemned the supposed gentleman’s agreement entered into by the previous administration with the Chinese government regarding the BRP Sierra Madre, which is grounded at the Ayungin Shoal.
Never yield
Amid China’s hostile acts, Marcos has been vocal about his foreign policy’s adherence to the international rules-based order. During the 2024 IISS Shangri-La Dialogue, he said the vision of having a peaceful and stable South China Sea continues to be a ”distant reality.”
”Illegal, coercive, aggressive, and deceptive actions continue to violate our sovereignty, sovereign rights, and jurisdiction,” Marcos said during the premier defense summit.
The Philippine president underscored that maritime differences in the region should be anchored on international law, particularly the United Nations Convention on the Law of the Sea (UNCLOS).
Marcos further stood firm that Filipinos would never yield their territory, noting that his administration would protect its sovereign rights even “to the last square millimeter.”
It was not the first time that Marcos made strong remarks against China’s provocative and illegal actions that infringed on the Philippines’ sovereign rights in the region.
In his address at the Lowy Institute in Melbourne, Australia, Marcos committed that the Philippines would push back against the Asian superpower if its sovereign rights were ignored.
Still, Marcos said diplomatic engagements with China, ”bilaterally and through ASEAN-led mechanisms, to address our differences at sea,” would continue under his administration.
This year, the Philippines, the United States, and Japan held a trilateral summit in Washington, which, according to Marcos, was aimed at changing the dynamics in the South China Sea and not targeting any other country such as China.
According to Marcos, its essence was security and freedom of navigation in the region as well as deepening defense ties among Manila, Washington, and Tokyo. Part of the elevation of these relations was US President Joe Biden’s request for an additional $128 million for infrastructure projects in 2025, including those located in the Enhanced Defense Cooperation Agreement (EDCA) sites.
Foreign policy expert Aaron Jed Rabena expressed the belief that in his foreign engagements, the Philippine president was ”trying to court friends and partners in our cause on the WPS by articulating the Philippine narrative.”
”This has led to varying degrees of support for the Philippines — from statements of solidarity to military aid and exercises, and defense cooperation agreements,” Rabena told GMA News Online.
Rabena noted that Marcos’ foreign engagements were successful in the sense that the Philippines has gotten more nations to support the country. However, he said China’s behavior remains unchanged in the region.
Increased investments
Meanwhile, Marcos’ presidential trips have led to increased foreign investments, according to government data.
Last month, the Department of Trade and Industry (DTI) said the Philippines continues to build momentum when it comes to attracting investments. The agency’s Board of Investments (BOI) has recorded P640.22 billion worth of approved investments from January to May 2024.
The figure marked a 14% increase compared to the P562.90 billion reported in the same period last year, making it the highest first five-month approval in the BOI’s 57-year history.
The DTI said this development could be attributed to various factors, including the investment leads generated from the presidential trips since Marcos assumed office in 2022.
”These visits, along with the efforts of the BOI and other investment promotion agencies (IPAs), have been instrumental in converting potential investment interests into actualized projects and foreign direct investments (FDIs),” the DTI had said.
In February of this year, at least 46 projects worth $14.2 billion in foreign investments have already been actualized from Marcos’ trips in various countries over the past 16 months.
Economist Michael Ricafort told GMA News Online that the Philippine economic growth could be considered among the fastest in the ASEAN region. This development led to more foreign direct investments to come into the country ”amid favorable demographics and lower long-term interest rates and borrowing costs.”
”Increased FDIs could have also partly been brought about by some realized investment commitments made for more than a year already during the various foreign trips of the administration,” Ricafort said.
He stressed that investment commitments generated from overseas trips of the President would help improve the FDI data going forward.
Ricafort also said the improved foreign policy and relations with major sources of foreign investments would also help in adding more FDIs into the country.
This should be equipped with improved governance and anti-corruption standards, which have been encouraged and even required by some regulators worldwide, according to Ricafort. —LDF/KG, GMA Integrated News
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