Marina: Seafarers’ remittances to rise 30%, Neda Board to approve Maritime Industry Development Plan

Marina: Seafarers’ remittances to rise 30%
Lorenz S. Marasigan - June 7, 2019 https://businessmirror.com.ph/2019/06/07/marina-seafarers-remittances-to...

REMITTANCES from overseas Filipino seafarers are expected to increase by a third annually through 2022, the chief of the Maritime Industry Authority (Marina) said on Wednesday, as the government buttresses efforts to further improve the skills and education of the current and future pool of marine professionals in the coming years.

Marina Officer in Charge Narciso Vingson Jr. said there is an uptrend in the value of remittances of Filipinos seafarers abroad, with 2018 seeing a 20-percent increase in remittances—from $5 billion in 2017 to $6 billion at end-December.

“Our seafarers have their fair share of contribution to the industry, trekking $6 billion in foreign remittances last year compared to only $3 billion in 2010,” he said. “[We expect that figure to grow] at 30 percent yearly.”

In a chance interview, he added: “So far, last 2017, we have $5 billion in remittances. Now we are at $6 billion, so [we expect a growth rate of] 30 percent yearly.”

This, as Marina pushes for the further development of the skills sets of the over 500,000 Filipino seafarers stationed around the globe today through its different programs to maintain its standing in the International Maritime Organisation’s (IMO) whitelist. The official list is expected to come out in October.

Neda Board to approve MIDP

Likewise, Vingson said his group is working toward the implementation of the Maritime Industry Development Plan (MIDP), a 10-year blueprint that spells out the needs, goals and challenges of the whole maritime industry.

“We are looking at the intensified implementation of the MIDP especially with the impending approval of the plan in the interagency technical committee on transportation planning of the National Economic and Development Authority or Neda. With a signed Neda Board resolution, we shall gear toward the realization of the MIDP’s goals and objectives,” he said.

The Neda Board is expected to discuss and approve the blueprint in June.

Under the plan, the government and the private sector will jointly invest roughly P95 billion to develop the industry through 2028.

The amount is broken down into eight components, namely: upgrading of domestic shipping in support of the nautical highway development (P45.15 billion); development of shipping services for maritime tourism (P147 million); development of coastal and inland waterways transport system (P2.64 billion); strengthening of safety operations of registered fishing vessels (P75 million); development of a global maritime hub (P45.73 billion); enhancement of maritime safety in the Philippines (P149 million); modernization of maritime security in the Philippines (P83 million); and establishment of maritime innovation and knowledge center (P599 million).