Philippines looking to upgrade its domestic arms industry with economic zone

ADVERTISING
guns philippines
Philippines Looking to Upgrade Arms Manufacturing Within the Country – philippineslifestyle.com

The Philippines is in the development stages of creating a Defense Economic Zone which will soon house the best international weapons manufacturing facilities in the region.

The 37-hectare zone will allow international manufactures to set-up shop within the country to help it become self-sufficient in defence requirements.

ADVERTISING

All profits from the facility will go straight back into an ‘armed forces modernisation fund.’

The Philippines is hoping to be self-sufficient by 2017 on the use and manufacturing of ammunition and weapons.

So far, several South Korean and South African companies have expressed interest in participating in the zone. The United States has of course expressed the biggest interest of all, asking the Philippines for specific tax breaks and zoning.

ADVERTISING

Under the Ferdinand Marcos regime, the Philippines produced their own M16s as well as Jeeps and tactical radios. Over time those project were de-funded and manufacturing capabilities were lost.

President Benigno Aquino has launched a project to modernise the country’s self defence capabilities. The 75-billion peso project will require funding which will eventually cost the Philippines nearly $500 million a year by the year 2021.

ADVERTISING