In theory!
Unfortunately there is little to no regulation on fishing here..
My brother in law built a 75ft long fishing banca for 600k 4 years ago..Within 2 years the business was bankrupt..Not enough fish..
Not only that, the nets are not graded and just about everything can be found on the fish market slab..Even 2 inch long reef fish for sale.
We are even starting to hear complaints from disappointed foreign reef scuba divers.
At least here in Bohol we have quite a number of sanctuaries..Thats something I suppose.