Blue growth crucial to national economy
Updated : Sunday, October 07, 2018 9:51 AM (GMT+0700)

Bluegrowth, or growth of the sea-based economy in an effective and sustainablemanner, is important to Vietnam’s economy as the sea plays a crucial role inboth economic and security terms for the country.

A view of Vinh Hy Bay in Ninh Thuan - Photo: VNA

In 2012, the Governmentapproved a National Green Growth plan for the 2011-2020 period with a vision to2030, and passed a national action plan on eco-friendly growth for the2014-2020 period in 2014.

However, natural resourceexploitation activities have still been prioritised, with the values in termsof services and space of the sea and sea ecosystems yet to receive adequateattention. There has been no breakthrough model to effectively tap thepotential of coastal areas and islands.

Although blue economy, whichis the sustainable use of ocean resources for economic growth, and a part ofgreen economy, is a current global priority, and has also been stated inVietnam’s 2012 strategy and 2014 plan, the enforcement of relevant policies hasfaced many difficulties due to slow changes in mindsets and limited resources.As a result, natural resources for maritime economy have not been preserved andcontinue to see a degradation in quality.

According to Professor ChuHoi from the University of Natural Sciences under the Hanoi NationalUniversity, Vietnam’s sea is rich in natural resources and located in the EastSea where there is a long history of disputes. Therefore, the sea has animportant position in national economic development and security strategy inany era.

Over the past years, thesea-based economy has made important contributions to national economic growth,but the scale of maritime economy has yet to match the potential and value ofthe sea, he held.

Professor Hoi asserted thatin order to optimise sea economy efficiently and sustainably towardsindustrialisation and modernisation, blue economy and blue growth are asuitable choice.

The national strategy on greengrowth focuses on strengthening investment towards preserving, developing, andexploiting natural resources effectively, while reducing green house gases andimproving the quality of environment, thus promoting economic growth. Cuttingdown emissions and increasing green house gas absorption are importantobligatory criteria of socio-economic growth.

Currently, the nationalgreen strategy and action plan is being implemented by ministries andlocalities nationwide. The two schemes have affirmed the inevitable developmenttrend of the Vietnamese economy in switching to a greener economy, contributingto poverty reduction, natural disaster mitigation, and climate change response.


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