Potential for development of Vietnam's marine economy

Friday, 21/06/2024 19:28
As a coastal country, Vietnam has a coastline of over 3,260 kilometers and more than 3,000 islands and archipelagos. With its geopolitical and economic conditions, Vietnam has great potential to develop its marine economy.
Relevant ministries, branches and localities focus on implementing the strategy for sustainable development of Vietnam's marine economy to 2030, with a vision to 2045. (Photo: VGP) 

Potential for developing marine economic sectors

Vietnam has significant potential for developing marine and island tourism. In recent years, marine and island tourism has received considerable investment and attention, becoming a key economic sector. However, there are still many challenges and difficulties to overcome to fully exploit the strengths of marine and island tourism.

 Going to coastal areas and areas near water sources to escape the heat is a travel trend chosen by many Vietnamese tourists in 2024. (Photo: SG)

Vietnam's coastline extends over 3,260 kilometers, with more than 3,000 large and small islands, about 125 beaches, numerous white sandy shores, and pristine bays. Vietnam's attractive marine and island destinations stretch from North to South, with many beaches, bays and islands recognized by leading global travel magazines and platforms. These include Ha Long Bay (Quang Ninh), My Khe Beach (Da Nang), An Bang Beach (Quang Nam); Nha Trang Beach (Khanh Hoa), Con Dao (Ba Ria - Vung Tau), Phu Quoc Island (Kien Giang), Cat Ba, and Lan Ha Bay (Hai Phong).

Furthermore, coastal territories, marine areas, and island systems, which host marine and island tourism, encompass seven out of 13 world heritage sites in Vietnam; six out of eight biosphere reserves; many national parks, and nature reserves.

With these advantages, according to Tran Dinh Luan, Director of the Fisheries Directorate under the Ministry of Agriculture and Rural Development, combining tourism development with marine aquaculture will yield the highest economic efficiency. Therefore, efforts should be made to simultaneously promote marine aquaculture and tourism development to reduce exploitation, increase farming, and sustainably develop the fisheries sector. This combination also helps alleviate pressure on marine fisheries exploitation, protects fishery resources, creates jobs, increases income for people, protects the marine environment, and contributes to building a sustainable fisheries sector in Vietnam.

Vietnam aims to have 280,000 hectares of marine aquaculture area by 2025, with a production of 850,000 tons and export value of USD0.8-1 billion. By 2030, the marine aquaculture area is expected to reach 300,000 hectares, with a production of 1.45 million tons and export value of USD1.8-2 billion. The future direction for marine aquaculture development in Vietnam is industrial marine farming with advanced technology, tight planning, modern management methods; developing offshore, nearshore, and distant offshore farming.

A recent report from the Ministry of Natural Resources and Environment to the 7th session of the 15th National Assembly indicated that Vietnam is projected to become the 29th largest economy in the world by 2030 and will rise to the 20th position by 2050 in terms of GDP per capita. This underscores the importance and significance of effectively exploiting, managing, sustainably using, and protecting national marine resources in realizing the country's socio-economic development strategy, making Vietnam a strong maritime nation, and deriving wealth from the sea./.

Compiled by BTA

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