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Manila Bulletin devider Philippines devider National devider 'Game-changer': Zubiri says law strengthening defense industry to boost Philippines' standing in global market

'Game-changer': Zubiri says law strengthening defense industry to boost Philippines' standing in global market

Published Oct 8, 2024 06:00 am

At A Glance

  • Senator Juan Miguel "Migz" Zubiri said the newly-signed Self-Reliant Defense Posture Revitalization (SRDP) Act will help transform the Philippines into a "key player" in the global defense market.

SRDP Act.jpgPresident Marcos signing the Self-Reliant Defense Posture Revitalization (SRDP) Act next to Senator Juan Miguel "Migz" Zubiri (Zubiri's office)

Senator Juan Miguel "Migz" Zubiri said the newly-signed Self-Reliant Defense Posture Revitalization (SRDP) Act will help transform the Philippines into a “key player” in the global defense market.

Zubiri, the principal author and co-sponsor of the SRDP Act, said the law will fortify the country's defense capabilities while simultaneously reduce reliance on foreign suppliers.

“This will be a great boon both for our defense forces and for our economy. It lays the foundation for a strong, self-reliant defense industry. We can now start manufacturing our own defense equipment instead of merely buying from other nations," he said in a statement on Tuesday, Oct. 8.

During the ceremonial signing on Tuesday morning at Malacañang, President Marcos lauded Zubiri as the main proponent of the measure.

“He has fought very hard for quite a while to get this bill passed and it is a good one, so congratulations,” Marcos said in his speech.

For his part, the former Senate president expressed gratitude to the President for signing the law and “giving the country a fair shot at rebuilding our homegrown defense industry”.

The SRDP Act aims to establish a robust defense manufacturing sector in the Philippines to effectively position the country to not only meet its military needs but also to become a defense supplier.

"This is a game-changer for us. We are transitioning from being dependent on foreign suppliers to being a producer ourselves in the global defense arena," Zubiri noted.

The law also sets a framework for the establishment and development of local defense enterprises to meet the requirements of the Philippine defense forces.

It likewise seeks to make the country an “attractive” destination for global arms manufacturers to invest and collaborate with Filipino companies.

"We have great Filipino minds, skilled professionals who can drive the growth of our local defense sector," said Zubiri.

The senator also highlighted the economic benefits of the SRDP Act, particularly through the growth of the defense manufacturing industry. He explained that this would bring in investments, create jobs, and generate revenues for the country.

"This law is not just about enhancing our defense capabilities; it is also a pathway to economic development and prosperity," he stressed.

Related Tags

Self-Reliant Defense Posture (SRDP) migz zubiri President Marcos
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