HB09662: AN ACT ESTABLISHING A FRAMEWORK FOR BLUE ECONOMY, PROMOTING STEWARDSHIP AND SUSTAINABLE DEVELOPMENT OF COASTAL AND MARINE ECOSYSTEMS AND RESOURCES, REORGANIZING AND RENAMING THE NATIONAL COAST WATCH SYSTEM AS THE NATIONAL MARITIME MONITORING SYSTEM, AND P
This bill establishes a comprehensive framework for a "Blue Economy" in the Philippines, promoting the sustainable development and stewardship of its coastal and marine ecosystems and resources. Its significance lies in integrating economic growth with environmental protection and social equity, leveraging green infrastructure and technologies, and improving human well-being by ensuring the sustainable use of marine wealth. The bill also renames and reconstitutes the National Coast Watch System into the National Maritime Monitoring System and expands its functions to include formulating an integrated strategy for blue economy and ecosystem-based management, thus strengthening institutional mechanisms for maritime monitoring and regulatory enforcement.
The Act emphasizes the importance of scientific understanding of marine ecosystems and the use of this knowledge to inform decisions and enhance adaptability to changing maritime environments. It mandates the formulation of a Policy Framework on Blue Economy to guide marine spatial planning and investments, encouraging the establishment of "blue economic zones" where registered businesses engaged in ocean-based or ocean-related activities can receive incentives. This aims to attract investments, create jobs, and ensure the long-term health and productivity of the country's maritime resources for future generations.