As an archipelagic country with long coastlines, the Philippines has great potential to become a driver of blue economy development.
The blue economy is an economic development model that focuses on the sustainable management and use of natural and other resources in the maritime sector.
During the interpellations of the Blue Economy Act bill, which I principally authored and sponsored, I emphasized that the proposed measure seeks to support efforts in achieving a vibrant and sustainable economy by promoting and protecting country’s marine resources.
The blue economy bill will complement with the Philippine Ecosystem and Natural Capital Accounting System (PENCAS) bill, which was already passed by both Senate and the House of Representatives. PENCAS is an information system that generates indicators of the sustainability of economic sectors at various levels of governance. Some of the data and information that it will gather would feed into decision-support tools utilized by managers of the blue economy.
I thank Senator Koko Pimentel for the meaningful discussion. We hope to urgently pass this significant measure.
