THE Maritime Industry Authority (MARINA) will grant ship operators of missionary routes five-yearinvestment security.The grant assures the operator of a secured time to recover his investment, MARINA administrator Vicente T. Suazo, Jr. said in an interview. It will also encourage more players to invest in the domestic shipping industry.
Missionary routes are areas which do not have regular vessel services and mostly serviced by small bancas. The maritime agency has already submitted the initial
list of missionary routes to the
MARINA Board for approval. The develop-ment of missionary routes is provided under Republic Act 9295 or the Domestic Shipping Development Act of 2004 due for imple-mentation by year-end.
