Hanoi (VNA) – ౠA green economy and finance are key drivers for regional prosperity but also contribute to development, Director of the Vietnam Agency of Seas and Islands (VASI) under the Ministry of Natural Resources and Environment Nguyen Duc Toan stated November 6 in his address at the East Asia Seas Congress 2024 in Xiamen city, China.

Vietnam hopes that international organisations and governments will boost international cooperation to mobilise greater financial resources and speed up technology transfer to promote a green economy, he stated.

Toan emphasised Vietnam's strategic goal of becoming a strong, prosperous country based on its marine economy, saying that the strategy on sustainable sea-based economic development to 2045,𒆙 adopted in 2018, outlines key policies highlighting the necessity to promote green growth models and prioritise environmental protection.

To implement this strategy, the Vietnamese Government issued a master plan and a five-year government plan. The master plan puts forth six main solutions on ocean governance and coastal management that include developing the coastal economy and sea-based culture. It also encompasses science, technology and the development of marine human resources, as well as the environment and response to natural disasters. Climate change and rising sea levels are other key features, as are national defence and security, foreign affairs and international cooperation.

Vietnam has made significant breakthroughs with an institutional framework for sustainable marine economic development, including the issuance of key strategies for sustainable exploitation and use of marine and island resources and environmental protection. The National Marine Spatial Planning and the masterplan on the exploitation and sustainable use of coastal resources are also part of the vision to 2050. In line with the Sustainable Development Strategy for the Seas of East Asia (SDS-SEA), Vietnam has made great efforts to promote integrated coastal management and collaborate with other countries in the region to achieve sustainable development in the East Asian seas region, Toan said. With support from international organisations, particularly the Partnerships in Environmental Management for the Seas of East Asia (PEMSEA), Vietnam has successfully implemented the SDS-SEA. The Southeast Asian nation has expanded the scope of integrated coastal management to all 28 coastal provinces and cities nationwide, and enacted the Law on Marine and Island Resources and Environment. It has also published the State of Coasts (SOC) report on the status of seas and coasts, and the national report on status of marine environment and islands for the 2016 - 2021 period. According to Toan, resources for implementing green projects are still limited, and the capacity to execute these projects has not improved. He expressed a hope that through international forums like the East Asia Seas Congress, PEMSEA, international organisations, and governments will strengthen international cooperation to mobilise financial resources and accelerate technology transfer for promoting a greener economy. The East Asian Seas Congress is held every three years by PEMSEA, rotating among its member countries. This is an international conference on sustainable development and management of coastal and ocean areas, focusing on the East Asian seas. At this year’s congress, themed “Blue Synergy for a Shared Future: One Sustainable and Resilient Ocean,” delegates assessed the progress made and the challenges in achieving regional and global commitments. They also discussed the way forward to build greater cooperation and knowledge sharing, aimed at ensuring the goal of a sustainable and resilient ocean for a shared future. More importantly, the event aims to create momentum for innovation and mobilise partnerships and resources to implement the vision of the Sustainable Development Strategy for the Seas of East Asia, and the plan for implementing the strategy in the 2023-2027 period, Toan said./.