MANILA, Philippines — The FVR Legacy Initiative, in partnership with the Philippine Rural Reconstruction Movement, convened the inaugural rountable discussion on the Philippine Blue Economy, spotlighting the urgent need to modernize the nation’s fishing industry while safeguarding its marine ecosystems.
Former finance secretary Roberto de Ocampo, chairman of the FVR Legacy Initiative, said that oceans are the cornerstone of the nation’s food supply.
De Ocampo outlined two critical interventions: upgrading fishing infrastructure and expanding cold storage facilities.
“We must move beyond traditional bancas and outriggers to something more elevated,” he urged, advocating for government-backed modernization programs.
He said that cold storage investments – whether through local government initiatives, provincial funding or international partnerships – could significantly reduce post-harvest losses, which cost the sector up to 25 percent of its annual yield.
De Ocampo also called for bilateral agreements to secure financing and foster business collaborations, aligning with global efforts to ensure food security amid rising demand.
Echoing this call for sustainable progress, Ben Malayang III, a professor and leading authority on archipelagic ecology, warned against overexploiting marine resources.
The roundtable, held against the backdrop of the pending Blue Economy Act in Congress, underscored the economic weight of the Philippines’ ocean-based industries.
Other legislative and institutional support, include the establishment of the Center for West Philippine Sea Studies and the designation of National West Philippine Sea Day.
These sectors – spanning fisheries, aquaculture, maritime transport, tourism and energy – contribute an estimated seven percent to the nation’s GDP, sustaining millions of livelihoods.
However, challenges such as climate change, overfishing, and pollution threaten their viability.
The FVR Legacy Initiative and the Philippine Rural Reconstruction Movement called on policymakers to prioritize the Blue Economy Act, which aims to provide a cohesive framework for sustainable marine development.
As the Philippines navigates its path toward inclusive growth, the roundtable’s insights offer a roadmap for balancing economic progress with ecological resilience, ensuring that the nation’s seas remain a lifeblood for generations to come.