PM calls for stronger global cooperation for sustainable ocean economy

The PM said that for Việt Nam, with over 3,000km of coastline, the sea is not merely a geographical concept but also an essential part of the country’s cultural identity and national spirit.

Prime Minister Phạm Minh Chính has spoken at the plenary session of the Blue Economy and Finance Forum, a special event held on Sunday in Monaco at the start of the 2025 United Nations Ocean Conference in France.

The Government leader stated that for the world, the ocean is not only a source of resources, but also the cradle of life and a space that connects humanity and nature across all nations.

He said that for Việt Nam, with over 3,000km of coastline, the sea is not merely a geographical concept but also an essential part of the country’s cultural identity and national spirit.

Effectively and sustainably developing the maritime sector and the blue economy is both an objective requirement and a strategic choice, enabling Việt Nam to set sail and realise its goal of becoming a strong maritime nation and a high-income developed country by 2045.

He noted that while oceans cover 70 per cent of the Earth’s surface, investment in the conservation and sustainable use of the ocean ranks the lowest among the 17 United Nations Sustainable Development Goals.

This paradox, the PM warned, serves as a serious wake-up call for all. Now more than ever, he emphasised, countries must step up cooperation through a whole-of-society, holistic and global approach.

With a vision grounded in fairness, equality, inclusiveness and sustainability, and in the spirit of jointly preserving and developing a thriving blue ocean, PM Chính proposed enhancing investment in marine science research and the development of practical applications; strengthening the transfer of technology, promoting research cooperation, and sharing best practices as well as working together to build a robust data system.

At the same time, there should be more efforts to improve mobilisation and the effective use of resources for the sustainable development of the marine economy.

The State will play the ‘leading’ role, businesses the ‘pioneering,’ and the people the ‘accompanying’ role. International organisations should play a catalytic role, and developed countries should offer support to build a sustainable blue ocean finance ecosystem.

Việt Nam is ready to take the lead in piloting this model, PM Chính said.

“We must also promote intercontinental, interregional, and transnational connectivity, and enhance global governance of the blue ocean," he remarked.

"The United Nations should be at the centre, international law should be the foundation, and international cooperation the driving force.”

To develop blue economic growth poles and better connect economic centres, the PM affirmed that Việt Nam is ready to actively participate in and contribute to this critical network in the East Sea (internationally known as the South China Sea), a strategic maritime region of the world.

He added: "Although our countries and peoples differ in terms of political systems, development levels, and cultural and economic conditions, we all share a common mission - to jointly preserve and protect the blue ocean for today and for generations to come, as a space essential for life and sustainable development and in harmony with nature.

“As a maritime nation, Việt Nam is committed to being a reliable partner, ready to join global efforts to safeguard the ocean. We are a proactive partner, prepared to play a leading role in mechanisms for green and sustainable marine cooperation. We are a responsible partner, willing to contribute to equitable and sustainable blue finance initiatives.”

PM Chính’s viewpoints and proposals were warmly welcomed and endorsed by world leaders and participants at the Forum.

In his closing remarks, French President Emmanuel Macron commended the efforts of countries in protecting the oceans, including Việt Nam.

He echoed and highlighted the key messages of PM Chính, emphasising that the protection of the oceans is not solely an environmental issue, but also a political, economic, scientific, and ethical matter. He stressed that it is essential for every country, every stakeholder – including businesses, scientists and all citizens – to join hands and take collective action.

Concluding the Forum, Prince Albert II of Monaco stated that the two-day conference had witnessed clear and active commitments from governments, sectors, and communities.

He noted that specific solutions had been proposed for sustainable ocean governance, along with appropriate tools to break the destructive cycle affecting the seas – such as promoting ecosystem-respecting fisheries and advancing new blue economy models through biotechnology to create new value.

This is the first time the Prime Minister of Việt Nam has attended the UN Ocean Conference, clearly demonstrating the country’s proactiveness and commitment to working with the international community to address global challenges.

This participation aligns with the major orientations of the Party and State on the sustainable development of the maritime economy; and aims to promote cooperation and partnerships for a green, peaceful, stable, sustainable, and prosperous ocean — the very goal the conference aspires to achieve.

The Blue Economy & Finance Forum, held on June 7-8 in Monaco, co-hosted by the Monaco Royal Family, the Prince Albert II of Monaco Foundation, and the Oceanographic Institute of Monaco, brought together numerous experts, policymakers and investors from around the world to highlight and promote the essential role of sustainable investment, modern innovation and forward-thinking policies in safeguarding the health and prosperity of the ocean and ocean-based economies.

According to the Organisation for Economic Co-operation and Development (OECD), the economic value of the ocean is projected to exceed US$3 trillion by 2030.

It is estimated that around $175 billion per year is needed to invest in a sustainable and inclusive ocean economy, requiring stronger cooperation among governments, intergovernmental organisations, and the private sector.

The UN Ocean Conference, convened by the United Nations Secretary-General every three years and co-hosted by a developed and a developing country, is one of the UN's most significant high-level meetings on ocean-related development and receives considerable attention from the international community.

This global forum focuses on initiatives and solutions aimed at supporting Sustainable Development Goal 14 (SDG 14) – the conservation and sustainable use of the oceans, seas and marine resources – as part of the United Nations 2030 Agenda for Sustainable Development. — VNS