With $11.9-B maritime sector, ‘blue economy needs push’ | Jovee Marie de la Cruz

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To maximize the economic and social benefits of Philippine maritime industries, lawmakers called on the national government to prioritize programs that promote blue economy in the interest of national economic security.

Citing the National State of Ocean and Coasts during the initial deliberations on House Bill No. 69 on Tuesday, Rep. Jose Francisco “Kiko” Benitez of Negros Occidental said maritime industries in the country were worth $11.9 billion in 2016.

Blue economy is a framework for sustainable development of marine and coastal resources, based on principles of stewardship and social responsibility, the Negros legislator explained. Salceda said that as long as the country remains reliant on captured fish, which can be highly variable, for its supply, it will remain dependent on imports and fish smuggling.

Salceda also cited a Food and Agriculture Organization report, “The State of World Fisheries and Aquaculture 2020” which states that “the percentage of fish stocks that are within biologically sustainable levels have decreased from 90 percent in 1974 to 65.8 percent in 2017.”

Source: Financial Digest (financialdigest.net)


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