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Reuters
Reuters
Business
By Karen Lema and Neil Jerome Morales

Philippines' Marcos vows farms and tax overhauls in ambitious address

FILE PHOTO: Ferdinand "Bongbong" Marcos Jr., the son and namesake of the late dictator Ferdinand Marcos, delivers a speech after taking oath as the 17th President of the Philippines, during the inauguration ceremony at the National Museum in Manila, Philippines, June 30, 2022. REUTERS/Eloisa Lopez/

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.

In an ambitious policy speech to Congress screened live on television, Marcos, the son of the strongman overthrown in a 1986 revolt, said he would create jobs and support growth by improving tourism and by modernising agriculture, using scientific methods and an "infusion of fresh and new blood".

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