The second pillar, according to Prof Carl Thayer, is establishing a comprehensive marine spatial governance system by developing a unified national legal framework alongside effective enforcement capacity.

This legal framework should ensure a balance between the needs of tourism, energy, conservation and maritime transport within the same marine space.

Effective enforcement capacity includes the ability to manage the exclusive economic zone to combat illegal, unreported and unregulated (IUU) fishing, and to protect seabed infrastructure such as fiber-optic cables.

The third pillar is developing high value-added Blue Economy services, such as maritime finance, maritime law, research and development (R&D), and innovation.

Financial and legal services include developing world-class centers for marine insurance, international maritime arbitration, ship financing and ship registration.

Research and innovation include investment in marine biotechnology, high-tech marine aquaculture and oceanographic research institutes capable of developing and registering new technologies.

The fourth pillar is strengthening integration into global supply chains through strategic connectivity and multilateral diplomacy.

Strategic connectivity means moving beyond the role of a mere destination port to building efficient connections between maritime, rail and road transport, thereby becoming an important link in global shipping routes.

Multilateral diplomacy means actively participating in shaping international maritime law, maritime safety standards and regional institutions such as the International Maritime Organization (IMO).

The fifth pillar is treating ecosystem resilience as the foundation of economic security through climate change adaptation and increasing the value of natural assets.

In the 21st century, a country's maritime strength is no longer measured by the volume of fish it catches or the amount of oil and gas it extracts from the seabed. That strength depends on its capacity to govern, ensure security, digitalize and sustainably manage marine spaces, while effectively connecting those spaces to global networks.

Rules at sea are the foundation of security and growth

In his research, Prof Thayer often emphasizes the importance of a rules-based maritime order that links international law, maritime security and economic growth into an interconnected system.

International law creates predictability in state behavior and provides a basis for enforcement when maritime security is challenged or violated.

Maritime security includes maintaining safe shipping lanes free from piracy and other threats to the safety of maritime operations.

The global economy depends on safe and unobstructed shipping lanes to facilitate trade.

A country's economic growth depends on the stability of the global economy, as well as its ability to export and import goods to drive national economic growth.

Vietnam is promoting offshore wind power, international logistics hubs, seaports, green industries and various other emerging marine economic sectors. 

Asked which sector has the greatest potential to create an economic breakthrough for Vietnam's marine economy over the next 10-20 years, he emphasized offshore wind power

Vietnam has a long coastline stretching along a vast area of shallow waters, with wind speeds of 7-10 meters per second, among the best in the world. Estimates suggest that Vietnam has the potential to develop around 500 GW of offshore wind power, concentrated near industrial zones on the mainland.

According to some experts, offshore wind power is a sector capable of bringing about fundamental transformation. If developed in the right direction, it could help address Vietnam's power shortages in the coming years. 

To realize this goal, each large-scale wind power cluster would need to attract around $10-30 billion in foreign investment.

Electricity generated by offshore wind farms would replace coal, oil and gas as the primary energy sources for domestic heavy industries.

The development of offshore wind power would also bring about an important transformation for Vietnam by creating a marine engineering workforce capable of manufacturing wind turbines, turbine foundations, offshore substations and specialized vessels. 

This would help Vietnam become a leading green energy exporter in Southeast Asia.

At the same time, Vietnam could build a high-tech supply chain for offshore wind power components to serve the Asia-Pacific market.

The development of a stable and reliable offshore wind power supply would also attract investment from leading global high-tech corporations in the electronics and semiconductor.

In addition, Vietnam could use wind power to produce ammonia and green energy for export as clean fuels.

Tu Giang - Lan Anh