Philippines' Marcos vows farms and tax overhauls in ambitious address

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President bongbongmarcos wants the Philippines to become a destination for investment and tourism. Here's how he plans to do it. SONA2022

FILE PHOTO: Philippines swears in Ferdinand Marcos Jr as new presidentMANILA - Philippine President Ferdinand Marcos Jr on Monday promised tax reforms, a faster infrastructure upgrade and to turn his country into an investment destination, while pledging to transform agriculture to drive growth and reduce reliance on food imports.

Marcos said the global food price crisis had shown how the Philippines, a major rice importer, was vulnerable to sustained price rises and insufficient supply, and would need to become more resilient to climate change. "A moratorium will give the farmers the ability to channel their resources in developing their farms, maximising their capacity to produce, and propel the growth of our economy," he said.

He said his government would reexamine nuclear power, a plan started by his late father and namesake in the 1970s.

 

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