MARINA wants more incentives for shipbuilding

July 09, 2019

THE Maritime Industry Authority (MARINA) is lobbying for addional incentives to shipbuilding and ship repair (SBSR) to improve the investment climate and attract more private-sector participation in the maritime industry.

In a coordination meeting with the Philippine Economic Zone Authority (PEZA),  to encourage more investors to engage in SBSR sector, Marina  is sought 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 and it continues to cater to the needs of other industries such as fishing and shipping with 1,179 ships constructed in 2018.

According to Ramon Hernandez, of the Shipyards Regulation Service (SRS), the the establishment of the global maritime hub is the priority program  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 pointed out that providing more incentives will benefit the local SBSR sector through more job opportunities and higher contribution to the national economy.