New management mindset unlocks sea potential

Vietnam's expansive marine potential remains largely untapped, constrained by shortcomings in infrastructure, conservation, and resource management. Positioned along the East Sea, a maritime route connecting the Indian and Pacific Oceans, the country boasts numerous bays and inlets ideal for port development. The marine and coastal zones contain substantial biological, oil and gas, and mineral resources, as well as valuable landscapes and ecosystems.

However, the marine economy has yet to convert this potential into economic value. Vietnam's seaport system grapples with structural and operational challenges, including poor connectivity and sedimentation in navigation channels, which limit the capacity of ports to accommodate larger vessels and reduce operational efficiency. The sector's lack of technological advancements, slow digital transformation, and insufficient green port development further weaken its competitive position.

Despite government efforts addressing illegal, unreported, and unregulated (IUU) fishing, Vietnam has not yet removed the EC yellow card on its seafood exports after nearly a decade. Only 11 marine protected areas covering 0.185 percent of Vietnam's natural marine waters have been established and operational, falling short of the goal to conserve 6 percent of the country's marine territory.

A strategic marine conservation vision for 2030 aims to protect 6 percent of the marine area, yet only 0.215 percent has been implemented. Limited application of high-tech solutions in aquaculture and coastal ecosystem degradation have hindered aquaculture production and tourism development. Awareness gaps among the public and government officials regarding marine resource management and protection also pose challenges to the marine economy's growth.

Offshore wind power, a crucial renewable energy source, requires improved storage and transmission infrastructure, which Vietnam's power sector infrastructure currently lacks. Investment in scientific research, technology development, and digital transformation in the marine sector is insufficient, and qualified personnel are in low supply due to low income levels and limited job opportunities.