THE incoming chief of the National Economic Development Authority (NEDA) sees potential in the country’s “untapped” marine wealth or so-called blue economy, which could easily reach P1 trillion in GDP value, according to a study by the University of the Philippines’ Marine Science Institute.
“The area covering our blue economy comprises—just the area—70 percent. The sea is a huge thing, but in terms of the wealth, it’s not 70 percent marine wealth versus 30 percent land based. It’s just that the marine wealth is contained in a bigger territory,” Ernesto Pernia, the incoming socioeconomic planning secretary and NEDA director-general said.
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