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The Philippine Fisheries Development Authority said P30.1 billion is needed to upgrade over a dozen regional and subregional seaports into deep-water facilities over four years.
Based on the initial financing requirement of developing 18 ports, the PFDA will need P6.04 billion in 2024 and P24.08 billion next year to steer the plan to action. Agriculture Secretary and PFDA chair Francisco Tiu Laurel supports PFDA’s goal of using the regional ports to become entry and exit points for agricultural items to reduce the cost of transporting farm and fishery products across the islands.
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