Monaco (VNA) – Vietnamese Prime Minister Pham Minh Chinh on June 8 delivered a keynote address at the plenary session on ensuring sustainable ocean governance and finance as a main guest of the Blue Economy and Finance Forum in the Principality of Monaco.
The PM attended the forum at the invitation of Monaco Prince Albert II, as part of his trip to France for attendance at the 3rd United Nations Ocean Conference (UNOC 3).
The forum is a key event within the UNOC 3 framework, hosted by the Government of Monaco on June 7 and 8. It gathered numerous heads of state and government, including French President Emmanuel Macron, Brazilian President Lula da Silva, Costa Rican President Chaves Robles, Palauan President Surangel Whipps Jr., Cabo Verde President Jose Maria Neves, as well as UN Under-Secretary-General Li Junhua, Secretary-General of the International Maritime Organisation (IMO) Arsenio Dominguez, President of the European Central Bank (ECB) Christine Lagarde, Prince of Wales William, policymakers, experts, and investors from around the globe.
The event aimed to promote the role of the blue economy in tackling current financial challenges, while underscoring the importance of sustainable investment and innovative policies in protecting the seas and oceans and fostering global economic prosperity.
As an important platform for countries and stakeholders to review progress in blue economic development, the forum also offered a space to exchange ideas and promote international cooperation in this field.
At the session, speakers from Norway, Germany, Chile, Palau, Cabo Verde and the UN Deputy Secretary-General discussed strategies, policies, and financial initiatives to attract investment and blue economic solutions, demonstrating the determination and concrete actions of governments in mobilising capital for the protection and conservation of the seas and oceans.
World leaders affirmed that the protection of the seas and sustainable investment are not solely the tasks of coastal nations nor the responsibility of public funds alone, but require the involvement of all countries and diverse resources. They underscored that sustainable development goals must be translated into concrete actions, not just words.
Several countries reported they had allocated funding to establish ocean conservation funds and developing programmes and projects to protect and restore nature, promote biodiversity, preserve wetlands, and tackle the climate crisis. Through these efforts, world leaders have conveyed a resolute message that preserving the oceans is safeguarding the future of humanity, as stated by the UN Under-Secretary-General.
In his speech, PM Chinh highlighted the particular importance of the forum as an occasion of solidarity, where countries and the private sector came together to invest in rebuilding the ocean economy.
He stressed that the seas are not merely resources or the cradles of life but vital links connecting people with nature in every country.
For Vietnam, with its more than 3,000km of coastline, PM Chinh affirmed that the sea is not just a geographical concept but a symbol of national identity and the soul of the Vietnamese people. Developing the marine economy in an efficient and sustainable manner is not merely an objective necessity but a strategic choice for the country to “set sail and ride the waves” and realise its goal of becoming a strong maritime nation and a high-income, developed country by 2045.
The Vietnamese leader noted that despite differences in political systems, economic development, and cultural and social identities, all nations share the mission to work together to protect the blue oceans for today and future generations, ensuring the oceans remain a vital space for life and sustainable development.
Regarding the current situation, PM Chinh pointed out a paradox and highlighted a serious warning that the goals related to ocean conservation and sustainable use receive the lowest level of investment among the 17 United Nations Sustainable Development Goals, despite the oceans covering 70% of the Earth’s surface.
To address this matter, he proposed a comprehensive, global, all-people approach, with a view of fairness, equality, inclusiveness and sustainability, and together conserving and developing the blue oceans.
The Vietnamese Government leader stressed the need to focus resources on three main areas. First, he suggested increasing investment in research, development, and application of marine science, including promoting technology transfer, research cooperation, sharing experiences, and joining hands to build a global marine data system.
Second, it is essential to increase the mobilisation and effective use of resources for sustainable development of the marine economy to create a blue ocean financial ecosystem, in which, PM Chinh said, Vietnam is ready to pioneer in piloting this model.
Third, the PM called on efforts to strengthen intercontinental, interregional, inter-national connections and global governance of the blue oceans, in the spirit of taking the United Nations as the centre, international law as the foundation, and international cooperation as the driving force to form blue ocean growth poles that connect global marine economic centres, in which Vietnam is ready to participate in and actively contribute to developing this important network in the East Sea - a strategic sea of the world.
Aiming towards the goal of “all for a blue ocean that brings happiness and prosperity to humanity and to all of us,” PM Chinh once again reaffirmed Vietnam’s strong commitment to being a reliable partner, always ready to join global efforts to protect the oceans; an active partner, willing to participate in and lead maritime cooperation mechanisms; and a responsible partner, ready to contribute to fair and sustainable green finance initiatives.
The Vietnamese PM's views and proposals gained applauses and support from world leaders and participants.
In his closing remarks, French President Emmanuel Macron praised the efforts of countries, including Vietnam, in protecting the oceans. He highlighted the views of PM Chinh and other world leaders participating in the forum, emphasising that ocean protection is not only an environmental issue but also a political, economic, scientific, and ethical matter.
He stressed that it is essential for all nations, stakeholders, businesses, scientists, and people to join hands and take collective action in this issue./.
PM delivers speech at Blue Economy and Finance Forum in Monaco
Prime Minister Pham Minh Chinh delivered remarks at the closing session of the Blue Economy and Finance Forum of the third United Nations Ocean Conference (UNOC 3) on the morning of June 8 (local time) in the Principality of Monaco.
