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Freeman Cebu Business

As AIC takes over

The Freeman

Bohol-Panglao airport to get major upgrade

CEBU, Philippines — Undeniably, the ocean, due to its vastness will always remain a mystery. However, its potential is a certainty. Its resources are now viewed as central in our efforts to address the multitude of challenges that humanity is expected to face in the coming decades. For one, pundits projected that by 2050, “the world’s population shall be at least 9 billion.” With such size, the demands for food, jobs, energy, raw materials and economic growth will be enormous.  Certainly, the massiveness of the ocean (both the surface as well as its resources down deep) has the potential to help meet these requirements. Collectively, these potentials and those that we’ve already enjoyed now is called the ocean economy.

The Organization for Economic Co-operation and Development (OECD) defines ocean economy as the “the sum of the economic activities of ocean-based industries, together with the assets, goods and services of marine ecosystems.” This includes among others, “marine fishing and aquaculture, coastal and marine tourism, extractive industries (e.g. oil and gas, sea-bed mining), transport and logistics industries (freight and passenger transport), shipbuilding industries, renewable energy and marine biotechnologies.”

OECD projected that the “value added generated by ocean-based industry globally could double in size from US$ 1.5 trillion in global value added in 2010 (the base year) to US$ 3 trillion in 2030.” As observed, there is a noticeable increase in economic activity in the ocean. It is a combination of the “briskly expanding ocean industries and expectations of moderate growth in already large industries like maritime and coastal tourism, offshore oil and gas, shipbuilding and maritime equipment.”

Some ocean industries though are expected to grow faster than the world economy.  OECD singled out “marine aquaculture, capture fisheries, fish processing, offshore wind, and port activities.” Consequently, “employment in ocean-based industries as a whole is also set to more than double by 2030 (over 40 million).” Notably, “above-average job growth is expected in almost all the sectors included in the study, with especially rapid employment growth occurring for example in marine aquaculture, fish processing, offshore wind and port activities.”

As the ocean’s potential and the economic impact cannot be ignored, the need to harness it in a more sustainable way becomes a must. Thus, the term, blue economy. While there is no universally accepted definition of the blue economy, according to the Grantham Research Institute on Climate Change and the Environment (established by the London School of Economics and Political Science in 2008), the term “blue economy broadly relates to a sustainable ocean economy – the economic activities associated with the ocean, seas and coastal regions – that allows resource use while preserving the health of the ocean ecosystem.”

Obviously, therefore, it includes all economic activities related to the oceans, seas, shorelines, and beaches, as these are essential components of the coastal and marine environment. So that, specifically, among others, it covers coastal and marine tourism like diving, snorkeling, beach tourism, and other recreational activities. Clearly, these are all tied to shorelines, beaches, and the coastal environment. More importantly, for the underprivileged fisherfolks who rely so much on fisheries and aquaculture, the seas and coastal waters are as precious as gold.

As an island nation, we can also tap our own side of the ocean, seas and coastal waters.  The potential is unlimited. However, one of our biggest hindrances is pollution. We need not go that far. Tañon Strait (supposedly, a protected area) has huge potential. Sadly though, the City of Bais and the Municipality of Manjuyod have a deleterious concern to address. An ethanol plant (inaugurated in November, 2014) owned by the Universal Robina Corporation (URC), which is a core subsidiary of JG Summit Holdings, Inc. (a publicly listed company), situated at Brgy. Tamisu, Bais City, is freely releasing its black (sometimes dark red) and muddy liquid waste into the Bais North Bay. Obviously, this ethanol plant is discharging industrial wastes from its inception until recently (May 29, 2025 discharge was one of the worsts). These effluents have turned the sand a tad brown and the seawater a bit murky along the shoreline and in several islets in the area. Without a doubt, it also contributes to water pollution, affecting marine life and potentially harming human health. Consequently, the poor fishermen were badly affected. Their livelihoods were severely diminished.

Worse, these effluents are inching closer to the White Sands of Manjuyod (popularly known as the Maldives in the Philippines) by the day. In no time, this white sand will turn black, thus, killing the local tourism industry.

Agreeably though, factories in the countryside are providing livelihood to the rural folks.  Obviously, it prevents rural exodus. However, we can’t just simply provide wages to a few and kill the livelihood of the rest. 

OECD

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