Viet Nam.
BLUE READY
Implementation Ready and Building Momentum
BLUE INNOVATOR
Implementation Ready and Accelerating Progress
National Snapshot.
Viet Nam is actively advancing its ocean economy through a series of sustainable sea economy resolutions that reflect the principles of the blue economy.
The country has made notable progress in physical and social capital, demonstrated by investments in seaport infrastructure, offshore wind development, and the adoption of sustainability-oriented policies.
Viet Nam is also promoting blue economy development at both exploratory and practical levels, with growing institutional engagement and policy alignment. These efforts signal clear momentum and implementation readiness, positioning Viet Nam as a Blue Ready nation.
Implementation Progress
Implementation Progress
Building momentum
Since 2007, a series of resolutions and strategic plans, collectively referred to as Viet Nam’s sustainable sea economy resolutions, have progressively embraced the principles of the blue economy, even though the term itself is not formally defined in national policy (Dang & Binh, 2023).
Viet Nam has emerged as one of the ASEAN countries actively promoting blue economy development at both exploratory and practical levels. The country has made significant progress in physical and social capital, demonstrated by investments in blue infrastructure, such as seaport modernization and offshore wind energy, and the adoption of policy resolutions that support sustainable ocean use. These developments signal Viet Nam’s growing institutional engagement and readiness to scale up its blue economy efforts.
Viet Nam is steadily building the foundations of a robust blue economy through its growing institutional engagement and policy alignment. Progress in physical and social capital is evident in infrastructure development and the adoption of sustainability-oriented resolutions. As the country continues to expand its ocean economy, there is increasing momentum in areas such as financial innovation, workforce development, and marine conservation. These emerging efforts reflect Viet Nam’s commitment to inclusive and resilient growth, and its readiness to scale up sustainable ocean-based activities.
Explore how Viet Nam is positioned for each of the
Blue Economy Capitals.
Financial
Capital.
Financial Capital.
Viet Nam’s ocean economy plays a significant role in national development, though precise valuation remains complex due to varying methodologies and data gaps. Early estimates from the National Center for Socio-Economic Information and Forecast (NCIF) suggest the ocean economy may contribute as much as 47–48% of Viet Nam’s GDP (Thanh, 2023). More conservative assessments, such as those by PEMSEA, indicate that key ocean sectors collectively contributed around 17.3% to national GDP in 2017, including fisheries (3.43%), oil and gas (2.76%), tourism, and shipping. Additionally, the broader coastal and island economies, which include tourism, agriculture, fisheries, industrial zones, and services, are estimated to account for 60–70% of regional GDP, reflecting the economic importance of Viet Nam’s 28 coastal provinces and cities (PEMSEA, 2020).
Recent efforts to refine these valuations include a pilot ocean accounting project in Quang Ninh Province, led by ISPAE (previously known as ISPONRE) in collaboration with the University of New South Wales (UNSW) under the Global Ocean Accounts Partnership (GOAP). Preliminary findings from this initiative show that ocean sectors contributed 7.2% to Viet Nam’s GDP in 2020, 5.7% directly and 1.5% indirectly. The top contributors to value-added in the ocean economy were crude oil and natural gas exploitation (21.5%), marine aquaculture and capture fisheries (19.2%), marine transport services (15%), oil and gas processing (14.9%), and seafood processing (7.1%).
The ocean accounting pilot project in Quang Ninh Province is also producing solid waste and governance accounts aligned with UN SEEA standards, while also building national capacity and integrating ocean accounting into planning processes. It is supported by the UK’s Blue Planet Fund and will run from 2023 to 2025. These efforts are strategically designed to integrate ocean accounting into national planning processes and bolster sustainable development frameworks. (GOAP, 2025).
Viet Nam possesses significant potential for blue carbon due to its humid tropical seas and diverse, highly productive marine ecosystems. With around 20 distinct ecosystems—including mangroves, coral reefs, seagrass beds, and lagoons—its coastal and island regions support rich biodiversity and vital ecological functions like carbon sequestration, climate regulation, and disaster prevention. These ecosystems also underpin key economic sectors such as tourism, fisheries, and renewable energy (VASI & UNDP, 2022). On 24 January 2025, the Viet Namese government issued Decision No. 232/QD-TTg to establishes a carbon market to support greenhouse gas reduction targets, promote green technologies, and enhance business competitiveness, all contributing to Viet Nam’s commitment to achieving net-zero emissions by 2050 (IKI, 2025).
Viet Nam has begun mobilizing sustainable finance through green and blue bonds, with support from the Asian Infrastructure Investment Bank (AIIB) and the International Finance Corporation (IFC). A total of USD 150 million was issued, including USD 50 million in blue bonds , adhering to the International Capital Market Association’s Green Bond Principles and IFC’s Blue Finance Guidelines (AIIB, 2024; IFC, 2024). While initial funding has focused on green sectors such as renewable energy and agriculture, this marks an important step toward developing tailored financial instruments for blue economy initiatives (PWC, 2025).
Altogether, Viet Nam is building a foundation for sustainable ocean finance, with growing institutional engagement, regional development focus, and international partnerships that signal readiness to scale up its blue economy ambitions.
Physical
Capital.
Physical Capital.
Viet Nam has made notable progress in developing its blue infrastructure, particularly in seaport expansion, shipbuilding, and renewable offshore energy. These advancements reflect the country’s growing capacity to support maritime trade, industrial output, and energy diversification. However, further development is needed in areas such as fisheries infrastructure, aquaculture (especially shrimp farming), coastal tourism, and coastal transportation networks to fully unlock the potential of Viet Nam’s blue economy.
Viet Nam’s seaport system has undergone remarkable growth over the past two decades, with cargo capacity increasing at an annual rate of 10–12% between 2000 and 2019. The Seaport Master Plan (2021–2030, vision to 2050) sets ambitious targets, including a carrying capacity of 1,423 million tons of goods and up to 10.3 million passengers by 2030. Priority developments include international hub ports such as Lach Huyen (Hai Phong), Cai Mep (Ba Ria–Vung Tau), and Van Phong (Khanh Hoa), as well as regional ports like Tran De (Soc Trang), serving the Mekong Delta (Ministry of Industry and Trade/MOIT, 2021).
Viet Nam’s shipbuilding industry has also expanded, with a total gross tonnage of 513,080 produced, and a design capacity of 2.6 million DWT/year across approximately 100 shipyards (UNCTAD database). However, actual output remains at 0.8 million DWT/year, and nearly half of the fleet is still repaired abroad. This indicates room for growth in domestic repair capacity, technology upgrades, and workforce development to enhance competitiveness and sustainability (VASI & UNDP, 2022).
In offshore renewable energy, Viet Nam had two operational wind projects by 2019, totaling 105 MW. The Cong Ly Wind Power Plant in Bac Lieu Province accounts for 99.2 MW, while a smaller hybrid wind-diesel plant operates on Phu Quy Island (VASI & UNDP, 2022). Looking ahead, Viet Nam has set ambitious targets for offshore wind development (6 to 17 GW by 2030–2035 and up to 139 GW by 2050) potentially contributing 15% of the national energy mix (World Bank, 2025).
Altogether, Viet Nam’s physical capital in the blue economy is advancing steadily, with strong foundations in port infrastructure and emerging capacity in shipbuilding and offshore energy.
Human
Capital.
Human Capital.
Viet Nam’s human capital presents both strengths and challenges in the context of blue economy development. The country’s Human Development Index (HDI) score of 0.766 in 2023 places it in the “high human development” category, ranking 93rd globally (UNDP, 2025. The ocean economy supports substantial employment: the fisheries sector employs approximately 4.5 million people, with 800,000 working directly at sea; coastal tourism contributes around 1.3 million jobs; and the shipping industry supports 181,000 jobs (PEMSEA, 2020). Notably, labour productivity in the maritime sector is estimated at 241 million VND per person, more than double the national average, highlighting the sector’s economic efficiency.
Despite these strengths, Viet Nam faces persistent challenges in coastal communities, where poverty remains a concern. As of 2017, extreme poverty affected 291 coastal and island communes across 23 provinces, accounting for 62% of all coastal communes. Vulnerability to climate change and natural disasters contributes to income instability, particularly among fishermen and farmers. Labour restructuring in coastal areas is underway but remains slow, with many rural jobs still seasonal and low-paying (VASI & UNDP, 2022).
Maritime education and training systems are underdeveloped, with gaps in technical skills, vocational training, and expertise in key areas such as shipping, oceanography, and maritime cybersecurity. These limitations hinder the full realization of employment and innovation potential in marine industries. Strengthening workforce development and expanding access to specialized training will be essential to support Viet Nam’s transition to a more inclusive and resilient blue economy.
Social
Capital.
Social Capital.
Viet Nam has not formally adopted the term 'blue economy' as a national policy, but the elements of the blue economy have gradually evolved in Viet Nam’s national policies from 2007 to 2021, in the form of resolutions that promote sustainable marine development by embracing themes of sustainable development of marine economy. The Resolution 36-NQ/TW dated 22 October 2018 on Sustainable Development of Marine Economy in Viet Nam till 2030, Vision to 2045, the Resolution No. 26/NQ-CP dated 5 March 2020 on the Issuance of the Master Plan and the Government’s five-year plan to implement Resolution No. 36-NQ/TW and the Socio-Economic Development Strategy for 2021–2030 (2021) were the three key relevant resolutions that push forward blue economy development in Viet Nam to become an integrated policy in their ocean governance (Dang & Binh, 2023). The Socio-Economic Development Strategy for 2021–2030 sets out key measures to promote sustainable development of the marine economy in accordance with international standards; control exploitation of marine resources; restore marine ecosystems; expeditiously develop national marine spatial planning; improve the mechanism of integrated and unified management of the sea; improve the efficiency of law enforcement at sea; and prioritise the development of marine economic sectors, especially tourism, marine services, the maritime economy, oil and gas and other marine mineral resources, offshore aquaculture, coastal marine industries, renewable energy, and new marine economic sectors (Thanh, 2023).
Viet Nam’s governance framework for ocean policy is structured to foster coordination across ministries. Central to this framework is a National Steering Committee, chaired by the Prime Minister’s Office, with the Ministry of Natural Resources and Environment (MONRE) and the Viet Nam Administration of Seas and Islands (VASI) playing key roles. MONRE serves as the lead agency for implementation, while other ministries are expected to collaborate in executing the plans. The resolutions also emphasize the importance of aligning efforts with both central authorities and local governments to ensure cohesive and effective policy delivery.
Natural
Capital.
Natural Capital.
The overall Ocean Health Index (OHI) score of Viet Nam is 62. Despite challenges Viet Nam has made notable strides in marine conservation and environmental management. The country has implemented a range of initiatives aligned with international biodiversity and sustainability frameworks, including the National Strategy for Biodiversity to 2020 with a vision to 2030 (MONRE, 2014). Efforts to manage solid waste, wastewater, and marine plastic pollution, alongside mangrove restoration and renewable energy development, reflect a broad-based approach to environmental stewardship (PEMSEA, 2020).
Viet Nam’s designation of 11 Marine Protected Areas (MPAs) as of 2021, covering 1,579 km² of sea area, including 172 km² of No-Take Zones, demonstrates a growing commitment to safeguarding marine biodiversity and ecosystems (Khu et al., 2023). The government’s approval of a national project to expand marine and coastal conservation areas to about 6% of Viet Nam's natural sea area by 2030 (Decision No. 1539/QD-TTg) further underscores Viet Nam’s proactive role in enhancing ecological resilience, supporting biodiversity, and integrating marine conservation with broader national priorities such as climate adaptation, sustainable development, and territorial integrity (MONRE, 2024).
Implementation Capacity
Implementation Capacity
implementation ready
Viet Nam combines strong resource availability with deep maritime interests, providing a solid foundation for blue economy development. The country benefits from good governance effectiveness and regulatory quality, which support its capacity to advance ocean-based initiatives.
While challenges such as disputed EEZ boundaries and moderate overall capacity remain, Viet Nam’s strengths in offshore renewable energy, sustainable fisheries, aquaculture, and infrastructure connectivity position it well to build momentum and expand its role in the regional blue economy.
