PH maritime sector looking at 100% growth

The Maritime Industry Authority (MARINA) targets to fully implement its 10-year Maritime Development Plan (MIDP) by 2028 to boost the Philippines’ maritime industry by 100 percent.

This will increase the sector's contribution to the national Gross Domestic Product (GDP) from P720 billion to date to P1.44 trillion.

The MIDP aims to increase the production capacity in shipbuilding and ship repair; upgrade relevant maritime technologies; develop and expand shipping and maritime tourism routes.

It will also improve higher maritime education and training programs; develop and implement practices in maritime safety and security as well as the protection of the marine environment.

The Department of Transportation (DOTr) assured the MARINA it will help in the implementation of the MIDP, Undersecretary for Planning and Project Development Timothy John Batan assured during last week's discussion.

At present, the MARINA is updating the MIDP to align with the 8-point priority economic agenda of the Marcos Administration.

By virtue of Presidential Decree No. 474 series of 1974, the MARINA is mandated to craft a 10-year Maritime Industry Development Program which shall contain a rational and integrated development of the maritime industry.

SOURCE: https://mb.com.ph/2022/11/21/ph-maritime-sector-looking-at-100-growth/