Philippines buys 40 fast patrol craft worth US$450 million for its coastguard
The Philippines has approved the purchase of 40 fast patrol craft worth 25.8 billion pesos (US$450 million), seeking to bolster maritime security as tensions with Beijing in the South China Sea linger. The National Economic and Development Authority Board, chaired by President Ferdinand Marcos Jnr, gave the greenlight for the purchase, which will be funded…