Ferdinand 'Bongbong' Marcos Jr., the 17th and current president of the Philippines, has been at the helm since his historic election win in May 2022. Marcos, who succeeded Rodrigo Duterte, has been navigating a complex geopolitical landscape while focusing on domestic economic and technological advancements.
Tensions with China in the South China Sea
President Marcos has been vocal about the ongoing tensions with China in the South China Sea. At the Shangri-la Dialogue security forum in Singapore, he warned China against any actions that could lead to the death of Filipino citizens, emphasizing that such incidents would be considered near 'acts of war' and would prompt a corresponding response from the Philippines and its treaty partners. The standoff has involved confrontational clashes, including Chinese patrol ships using water cannons against Philippine boats and supply vessels.
In response to these escalating tensions, the Marcos administration is increasing military spending and acquiring missiles from the US and India. The Philippines is also seeking a significant portion of a proposed US military aid package for its Indo-Pacific allies.
Economic and Technological Initiatives
On the economic front, President Marcos has been proactive in attracting high-tech investments. Recently, he inaugurated the Philippines' first lithium-iron phosphate (LFP) 'gigafactory,' marking a significant step in the country's transition to high-tech and high-impact investments. This move is part of Marcos's vision to make the Philippines ready for advanced technological investments.
Additionally, Marcos has overseen the opening of the country's first electric vehicle (EV) battery plant, a milestone that aligns with the government's goals of promoting sustainable energy and reducing dependence on fossil fuels.
These initiatives reflect the administration's commitment to driving economic growth through innovation and technological advancement, positioning the Philippines as a viable destination for high-tech investments.
