President Ferdinand Marcos Jr. has approved the 10-year Marine Industry Development Plan 2028 (MIDP), which attempts to include development into the strategic orientation of the country's marine industry.

In a four-page Executive Order No. 55 that Executive Secretary Lucas Bersamin signed on 8 February but was released to media on Tuesday, 13 February, Marcos emphasized the necessity of MIDP to fully achieve the nation's potential as a maritime nation.

"To fully realize our potential as a maritime nation, the country requires a clearly defined and coordinated roadmap that shall accelerate the integrated development of the Philippine Maritime Industry," Marcos said.

EO No. 55 is based on the administration's "AmBisyon Natin 2024" vision for a comfortable and secure life for every Filipino.Filipino's

The MIDP requires the Maritime Industry Authority (Marina) to adopt a system to effectively implement, monitor, and analyze the MIDP and its component programs—which include modernizing and growing domestic shipping and promoting the growth of the international shipping industry—the

The component programs include the modernization, expansion, and promotion of the shipbuilding and ship repair industries; the development of a highly skilled and competitive maritime workforce; the improvement of maritime transport safety and security; and the promotion of the environmentally sustainable maritime industry.

It is also required to submit a progress report on the status of EO 55 and the MIDP implementation to the Office of the Executive Secretary within six months of this Order's implementation, and then annually after that.

The funding requirements for implementing EO 55 will be charged against MARINA's and other pertinent agencies' current and available appropriations, subject to applicable budgeting, accounting, and auditing laws, rules, and regulations.

The MARINA and other pertinent agencies' budget proposals will also include the necessary funding for the ongoing implementation of the EO, subject to the standard budget preparation procedures.

The Maritime Industry Decree of 1974, which created the MARINA, mandates the preparation and annual updating of a 10-year MIDP that contains a rational and integrated development plan of the maritime industry for submission to and approval by the president.