To foster economic growth and respond to climate change, the country will focus on its coastal infrastructure and initiatives.
A resolution issued by the Central Committee of the Communist Party of Vietnam articulates the goals of having the nation's maritime sector industry to constitute 10% of the country’s gross domestic product (GDP) with 28 coastal cities and provinces to contribute 65-70% of the nation’s GDP by 2030, what would be a 5-10% increase from current numbers.
To achieve these aims, the government will prioritize improving tourism and maritime services; maritime economy; exploitation of oil, gas and other marine mineral resources; aquaculture and seafood harvesting; renewable energy; and, emerging marine economic sectors. The resolution reflects views espoused by Prime Minister Nguyen Xuan Phuc in Hanoi this August when speaking with relevant ministry leaders.
Seaports will be an important part of the equation as they are involved in 90% of the nation's exports and imports. Along the country's 3,500-kilometer coast, there are 120 ports, 37 of which can facilitate ocean-going vessels. With Vietnam's meteoric economic development, there is, however, a need for more largely privatized ports relying heavily on foreign investment. Currently, the country has many ports which are underutilized and rife with inefficiencies. Similarly, outdated ships must be replaced or transformed with modern technology to improve global competitiveness.
Earlier this month, Former Deputy General Director of the Vietnam Administration of Sea and Islands Nguyen Chu Hoi added that “Islands are part of Vietnam’s territory and will increase our strength if we take advantage of them. Coastal urban areas and urban centers on islands need to form development hubs to attract investment, connect with the mainland, and enhance Vietnam’s influence in the sea.”
The resolution also noted the need for a robust and modern armed forces for coastal defense and protecting the country's independence, sovereignty and national interests. Earlier this year, Vietnam met with the US to discuss ways to strengthen bilateral military ties. Defense relations between the two have been increasing since then-President Obama lifted a ban on weapons sales to Vietnam in 2016.
