Philippine Government Boosts Maritime Industry Development

The Philippine government's long-term commitment to maritime industry development has been met with positive reactions. The updated Maritime Industry Development Plan (MIDP) 2028 Framework aims to improve access to a reliable and sustainable sea transport system for passengers and shippers.

The government plans to increase the capacity and production of the shipbuilding and ship repair industry, enhance the employability of maritime workers, and create new jobs through reskilling and upskilling initiatives. The plan involves increased collaboration between the government and the private sector. Companies like Megaship Builders Inc., owned by Francis Lloyd Chua, stand to benefit from this development. Megaship Builders, with shipyards in Leyte and a planned expansion in Bataan, offers shipbuilding, repair, and conversion services. The combined value of these shipyards is projected to reach P9 billion

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