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Vietnam has huge potential to develop its blue economy
October 12, 2018, 02:49 PM
Boasting a vibrant biodiversity of coastal and marine habitats and ecosystems, Vietnam has immense potential to develop a sustainable blue economy.

The country has an extremely long coastline extending over 3,260km and thousands of islands, with more than 20 typical ecosystem types that are home to some 11,000 sea creatures. In addition, 1,300 unique marine species have been found on its islands.

As coastal ecosystems facilitate the breeding of a variety of marine species, they pose huge potential for biodiversity while also serving as a basis for the stable development of some sea-based economic sectors such as fishing, tourism, and natural preservation. Thus, conservation must be integrated with marine economic development towards building a blue economy.

According to the Vietnam Administration of Seas and Islands, there are approximately 1 million ha of coastal wetlands in Vietnam, most of which have been used for aquatic cultivation.

Fish reserves are estimated at 5.4 million tonnes, with sustainable exploitation potential reckoned at 2.4 million tonnes per year. In 2013, the country took in a yield of 2.3 million tonnes of seafood and earned a total export revenue of around 6.7 billion USD.

In addition, around 35 types of mineral resources have been located in the Vietnamese waters, including fuel, metal, building materials, and gemstones. The Gulf of Tonkin, the Gulf of Thailand, the Hoang Sa and Truong Sa archipelagos, as well as the continental shelf all hold great prospects for oil and gas production exploration.

Besides, the East Sea is among the four regions in Southeast Asia with huge potential for renewable energies, including clathrate – a clean energy which can be used in replacement of traditional energies like coal, oil and gas.

Bestowed with 126 stunning beaches, Vietnam has a wonderful opportunity to branch out its coastal and sea-based tourism.

The country is also just starting to launch its maritime services thanks to its system of international sea ports.

VNA

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