The time is now for Vietnam’s Blue Economy

Viet Nam is building back from COVID-19 and now is the time to develop its blue economy in an integrated and sustainable way, write Kanni Wignaraja, UNDP Regional Director for Asia and the Pacific and Caitlin Wiesen, UNDP Resident Representative in Viet Nam.

Covering more than three-quarters of the planet, the oceans absorbs up to 30% of the carbon dioxide produced by humans – a massive buffer to the impacts of global warming. 

Like clean air and fresh water, the oceans are a global public good – unrivaled in their importance as the largest and most critical ecosystem on the planet. More than 3 billion people depend on marine and coastal ecosystems and biodiversity for their livelihoods.

The global Blue Economy – made up of oil and gas, fisheries, coastal and marine tourism, shipping, ports, renewable energy, and marine and coastal ecosystems – contributes around US$3 trillion per year, or about 5%, to the world’s GDP. In Vietnam, a country with a coastline of more than 3,000 kilometers, the economy of the sea and coastal provinces and cities accounts for almost half of its gross domestic product.

But our oceans are facing serious threats from climate change, becoming more acidic, losing oxygen, and heating up. Left unchecked, this will have devastating impacts on both life under the sea and life on land, and ultimately on the very survival of people and our planet. Imagine a sea without living creatures, be it fish or coral.

Key indicators – from water and environmental quality to ecosystem diversity and productivity – have all declined. Sea-level rise is threatening the survival of small island developing states, and coastal livelihoods and infrastructure also face serious risks.

And this is just what is easily measurable. There are also immeasurable values such as tranquility and beauty, the interdependence and social cohesion among communities that live by and with the sea, and the mysteries of the deep that have furthered scientific inquiry and discovery. 

Recent reviews show that a 1-meter rise in sea level would impact 11% of Vietnam’s population and 7% of its agricultural land. Depending on the severity of sea-level rise, climate change may eventually expose 38‐46% of Vietnam’s population to flooding.

Additionally, ocean pollution, especially plastics and marine litter, is directly affecting human and marine well-being. Globally, an estimated 8 million to 20 million tons of plastic enters the ocean every year, and microplastics have now been found in marine food chains reaching the extreme depths of the ocean. These plastics are now in our bloodstreams.

In Vietnam, an estimated 3.7 million metric tons of plastic waste is generated every year, of which only 10-15% is recycled. Around 2,000 tons of plastic waste leaks from the country into the ocean every day.

Removing plastic debris from the ocean floors would be like moving mountains. While trying to find ways to address this removal, the issue of plastic production also must be tackled at the source before it further pollutes ocean and human life.

As one of the countries most vulnerable to climate change, Vietnam is determined to play a part in the global climate response. 

At the COP26 meeting in Glasgow last November, Prime Minister Pham Minh Chinh pledged that Vietnam would achieve net-zero emissions by 2050. 

Vietnam targets sustainable Blue Economy 

The country is developing robust plans for sustainable development of its Blue Economy, ensuring that the benefits the ocean provides can be protected, preserved, and improved to provide for both current and future generations.