Vietnam’s Blue Economy is a relatively new concept that incorporates sea and ocean-related economic activities while improving livelihoods and protecting the health of marine ecosystems.
Vietnam’s sea and coastal regions account for about 47-48 percent of the country’s GDP. The Vietnam briefing highlights some of the unique features of the blue economy as well as opportunities for investors.
The development of Vietnam’s blue economy is a relatively new concept but it is necessary to address environmental issues, its carbon footprint and the exploitation of natural resources along its coastline.
Blue economy is a relatively new term. This means the development of marine ecosystems while ensuring economic growth and ensuring reasonable exploitation of natural resources with minimal environmental impact. It refers to the construction and development of infrastructure that can adapt to climate change and extreme weather.
The World Bank describes the Blue Economy as a sustainable use of marine resources for economic growth while improving livelihoods and protecting the health of marine ecosystems.
For example, the Blue Economy is central to enabling Vietnam to achieve its Sustainable Development Goals (SDGs) between 2030 and 2045, with the environment being one of the pillars of this development.
The blue economy will also help meet Vietnam’s climate change goals. Recent studies show that a 1-meter rise in sea level will affect 11 percent of Vietnam’s population and 7 percent of its agricultural land. Depending on the intensity of sea level rise, climate change could eventually lead to floods for 38-46 percent of Vietnam’s population.
The development of the blue economy must be based on the balanced growth of six industries: fisheries and aquaculture; Oil and gas; Marine renewable energy; Coastal and maritime tourism; Maritime sector; And the environment and ecology.
Vietnam’s long coastline is convenient because it is close to international and regional maritime routes. The coastal regions of Vietnam are located in areas with high economic growth rates and serve as a bridge between several regional trade partners and shipping routes.
These are favorable conditions for the development of Vietnam’s maritime, shipbuilding and logistics industries, with 114 estuaries along the central coast and 52 deep-sea bays (bay, bay and more than 60 percent of the coastline). More than 100 locations for construction of large seaports.
Vietnam is home to a variety of natural resources and contains about 35 minerals of different groups: fuel, metals, building materials, precious and semi-precious stones and liquid minerals. The seabed at Kwang Ninh Province and Hai Fong City have deposits of 100 billion tons and about 9 billion tons, respectively.
This article was first produced by VietnamBriefing which is produced by Dejan Veins & Associates. The company supports foreign investors across Asia from the office Around the worldIncluding China, Hong Kong, Vietnam, Singapore, IndiaAnd Russia. Readers can write [email protected]