FILE PHOTO: President Ferdinand Marcos Jr. signs the Self-Reliant Defense Posture Revitalization (SRDP) Act, which aims to develop the country’s defense industry by creating ways to boost the local production of defense equipment like materiel and bullets. The SRDP Act was labeled a priority piece of legislation by the Legislative Executive Development Advisory Council. PPA POOL
MANILA, Philippines — President Ferdinand Marcos Jr. on Tuesday signed the Self-Reliant Defense Posture Revitalization (SRDP) Act, which aims to develop the country’s defense industry by creating ways to boost the local production of defense equipment like materiel and bullets.
The SRDP Act was labeled a priority piece of legislation by the Legislative Executive Development Advisory Council.
Last August, the House of Representatives, adopted the bicameral conference committee report on the disagreeing provisions of House Bill No. 9713 and Senate Bill No. 2455, or the proposed SRDP Act.
READ: Self-reliant defense posture bill now only needs Marcos’ signature
The Senate ratified the bicameral conference committee report on the two bills in the same month.
In a statement, the office of Senator Juan Miguel Zubiri said the measure mandates the Department of National Defense (DND) to create an SRDP program, which will prioritize buying locally made materials.
READ: Modern tech for AFP is priority in our self-reliant defense posture – DND
Under the program, local defense companies will be exempt from national internal revenue taxes, value-added tax, and customs duties on imported supplies needed for production, as long as these supplies aren’t available locally.
It also provides that local defense companies selling products to the DND or other government agencies will not be subjected to the Single Largest Completed Contract requirement and the requirement that a product must be used by at least two foreign militaries before the Philippines can purchase it.