Strategy for sustainable development of Vietnam’s sea-based economy

The sea and marine economy play an increasingly important role today in Vietnam’s socio-economic development and also national security. In order to manage and exploit the advantageous resources of the sea, the 12th Party Central Committee issued Resolution 36 on the strategy for the sustainable development of Vietnam’s marine economy by 2030 and vision to 2045.

This was the result of 10 years of implementing the Sea Strategy to 2020, issued by the 10th Party Central Committee in 2007, in which successful lessons were drawn and difficulties noted and measures to overcome them identified, while acquiring international experience and embracing new trends in oceans and seas.

The strategy for the sustainable development of the marine economy defines the overall goal of making Vietnam a strong sea country, basically meeting the criteria for sustainable marine economic development by 2030 and becoming a strong, sustainable, and prosperous marine nation by 2045.

It also sets out specific targets to achieve its goals. By 2030, pure marine economic sectors will contribute about 10 percent of GDP. The economies of 28 coastal cities and provinces are estimated to account for 65-70 percent of GDP, while marine economic sectors will see sustainable development according to international standards.

The strategy sets out five major policies and seven groups of solutions to achieve these goals. The five major policies include developing the marine and coastal economy; sustainably developing marine areas based on advantages in natural conditions, while balancing conservation and development; protecting the environment, conserving and sustainably developing marine biodiversity, proactively responding to climate change and sea level rises, bolstering natural disaster prevention and control; improving people’s lives, building a sea culture that is close and friendly on the sea; and ensuring national defense, security, foreign affairs, and international cooperation.

On February 6, 2020, the Prime Minister issued Decision 203 on the establishment of the National Steering Committee on the implementation of the strategy for the sustainable development of Vietnam’s marine economy to 2030 and vision to 2045.

On March 5, 2020, Prime Minister Nguyen Xuan Phuc signed Resolution 26 on the issuance of a master plan and five-year plan from the Government, which offers six contents and solutions on sea and ocean governance and coastal management; marine and coastal economic development; and guaranteeing national defence, security, foreign affairs, and international cooperation, among others./.