TAGUIG CITY – The Maritime Industry Authority (MARINA) is lobbying for more incentives for the shipbuilding and ship repair (SBSR) to improve the overall investment climate in the maritime industry.
This occurred at the coordination meeting of the MARINA with the Philippine Economic Zone Authority (PEZA) to further support the growth of the country’s maritime industry.
To encourage more investors to engage in SBSR sector, Engr. Hernandez is seeking for the provision of incentives for non-PEZA-registered shipyards, specifically duty-free importations of SBSR facilities or equipment.
In 2016, the local SBSR sector generated $1.6 billion in revenue. Furthermore, it continues to cater to the needs of other industries such as fishing and shipping with 1,179 ships constructed in 2018.
Moreover, Engr. Ramon Hernandez of the Shipyards Regulation Service (SRS) presented the establishment of the global maritime hub which is the priority program #5 of the Maritime Industry Development Plan (MIDP), of which the SRS is the chief planner and implementor.
The establishment of the global maritime hub, initially targeted to be placed under the management of PEZA, will transform the country into a one-stop maritime destination in the Asian region.
MARINA and PEZA believe that providing more incentives will benefit the local SBSR sector through more job opportunities and higher contribution to the national economy.