Vietnam's Sea-borne Economy to Account 55 per cent of GDP by 2020-Seminar

Vietnam’s sea-borne economy will account for up to 55 per cent of the country’s GDP value by 2020, announced the Ministry of Natural Resources and Environment at a seminar on the East Sea issues: opportunities and challenges” organized on June 11 by the Vietnam Seas and Islands General Department under the ministry on the occasion of the World Ocean Day.

 

Deputy Minister of Natural Resources and Environment Nguyen Van Duc told the meeting that with the coastline of 3,260 kilometers and one million square kilometers of waters, three times bigger than the land with the population to account for 30 per cent of Vietnam’s, the Asean country needs a sustainable development strategy.

 

PhD Nguyen Chu Hoi, vice head of the department proposed that coordination among sectors is much needed.

 

With 1,120 kilometers of coral reefs and about 252,500 hectares of salty-submerged forests, the sea-bio-systems on the north-south coastline bring profit of US$60 million-US$80 million a year, the Vietnam News Agency said.

 

However, Vietnam’s seafood stock sees a strong depletion of many species due to overexploitation with 85 species on the brink of dangers and 70 species listed on the Red Book, the Thoi Bao Kinh Te said.

 

The catch output dropped six times and seafood exploitation yield in salty areas stays at one twentieth compared with the past. (Vietnam Economic Times)