The Philippines intends to buy 40 new multi-role fighter jets to strengthen its territorial defense. This was stated by the Minister of Defense Gilberto Teodoro, quoted by "Reuters".
He pointed out that the country has started collecting bids.
Applicants must submit a proposed financial package where the payment can be spread.
Teodoro did not specify which models the Philippines wants to buy or who the potential bidders are. The deadline for the planned order is also unclear.
The Philippines is an ally of the United States and is seeking to modernize and increase its military inventory. At the moment, it seems that their air force has a small number of fighter jets.
The Defense Minister emphasized that the country needs "faster and more lethal" multirole fighters in addition to its South Korean FA-50.
The government is looking for reasonable financing schemes to fund its modernization program, including using syndicated loans from private lenders, Teodoro explained.
President Ferdinand Marcos Jr. approved "Re-Horizon 3" - a plan to acquire new military weapons and equipment worth 1.89 trillion pesos ($33.64 billion) to strengthen the defense.