DEPARTMENT OF National Defense (DND) Secretary Gilberto Teodoro Jr. has called on enterprise executives and managers to help the national government in crafting "creative financing solutions" to help ease the financial burden of the Armed Forces of the Philippines' (AFP) ongoing modernization program.
Teodoro made the call in a speech before members of the Management Association of the Philippines (MAP) on Wednesday, the DND said in a news release on Thursday.
Noting the significant resources needed to fund the continuing modernization of the Armed Forces of the Philippines (AFP), Teodoro said the government has to balance the economy and the spending for infrastructure, social services, education, and various other priorities.
“We need to find off-budget, non-traditional financing sources for modernization but not (based) on the model of the old BCDA (Bases Conversion and Development Authority), where land was traded for modernization. Therefore, I ask your help for creative financing for us where we can spread out the terms of whatever financial arrangements we can make to limit the size of amortizations that the national government will make to make it more palatable,” Teodoro stressed.
The DND chief also expounded on the need for resources to build up the country’s defense posture amid “geopolitical problems worldwide” such as the situation in Ukraine, the Red Sea, and the tensions in the West Philippine Sea that “have affected the business cycles in the Philippines” and “caused some lack of confidence in the geopolitical stability of the region.”
“However, these are realities that we need to face, we need to address, as a country. Volatility is the only constant in geopolitics and the world will continue to be that way,” he stressed.
Teodoro also stressed that the Philippines can protect itself by boosting its credible deterrent posture.
The DND chief also noted that under the new Comprehensive Archipelagic Defense Concept, the Philippines “will project our defensive capabilities to secure not only the land base of the Philippines but its exclusive economic zone and other areas where we have jurisdiction.”
Teodoro also dismissed claims that the increase in the tempo of the AFP's bilateral and multilateral training as a preparation for war or provoking conflict.
“No, that is not true. That is scaring our people. The truth is the Armed Forces of the Philippines has never trained to the level that it should train. It has never used or tested the equipment that it has bought in the level that will make you determine whether what you bought is effective for you or not,” he added.
Teodoro also thanked the members of the MAP and the private sector for their continuing expression of support for the AFP troops following the June 17 aggressive actions by the China Coast Guard in Ayungin Shoal. (Priam Nepomuceno)
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