THE British Chamber of Commerce Philippines (BCCP) renewed its call for the passage of the proposed “Blue Economy Act,” saying the measure can help unlock sustainable investments, strengthen marine resource management, and reinforce the country’s broader economic reform agenda.
The renewed push comes as President Ferdinand R. Marcos Jr. expressed support in 2025 for another attempt to pass the measure. The legislation adopts a blue economy framework that recognizes marine resources as a pillar of national development while aligning the Philippines with global efforts to sustainably manage ocean resources.
“The Blue Economy Act is one of the priority measures we have consistently supported because it sends a strong signal that the Philippines remains committed to sustainable growth and long-term investment opportunities,” Executive Vice Chairman Chris Nelson of BCCP said.
The blue economy now contributes about $17.17 billion to the Philippine economy, accounting for 3.8 percent of its gross domestic product. The sector recently received a significant boost after the Asian Development Bank approved a $500-million policy-based loan to support the country’s blue economy agenda.
Clearer framework
NELSON noted that passing the proposed measure would help provide a clearer framework for both domestic and international investors seeking opportunities in marine conservation, sustainable fisheries, renewable energy, maritime infrastructure, tourism, and other ocean-related industries.
He said that “even after legislation is passed, implementing rules and regulations must follow. So it’s not just about passing the law; it’s about creating a clear and predictable investment environment.”
The chamber also highlighted opportunities for collaboration with the United Kingdom through its “Blue Planet Fund”—a £500-million initiative that supports marine conservation, climate resilience, sustainable livelihoods, and the protection of vulnerable coastal ecosystems in developing countries.
“The Philippines is well positioned to benefit from increased cooperation in areas such as marine conservation, coastal resilience, sustainable fisheries, and blue economy development,” the BCCP official said.
Other proposed legislation
THE chamber emphasized that the Blue Economy Act forms part of a broader package of priority reforms that can strengthen the country’s competitiveness and investment attractiveness.
Alongside the proposed act, BCCP continues to advocate for the passage of the “Cybersecurity Act,” “Open Finance Act,” and “Digital Payments Act.”
“The Cybersecurity Act is particularly important. The UK has significant strengths in cybersecurity, and several of our members operate in that space,” Nelson shared.
He added that the Open Finance Act can help expand access to credit and financial services, while the Digital Payments Act can accelerate the country’s transition toward a more efficient and inclusive digital economy.
The Chamber noted that recent cybersecurity incidents involving government websites underscore the urgency of strengthening the country’s cyber resilience framework, while ongoing efforts to expand digital payments and open finance systems can support financial inclusion and innovation.
Marcos Jr. recently called Congress to a special session to discuss priority legislative measures. While the Blue Economy Act and the chamber’s other priority reforms are not among the measures included in the proclamation, Nelson expressed hope that momentum for economic reform will continue.
“Has sentiment changed? No. The long-term outlook remains positive,” he remarked. “However, passing these priority bills would send a strong signal to investors that the Philippines is moving forward.”
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