WITH its rich environmental resources, including extensive coastal areas and vast waters, Myanmar’s blue economy presents a key opportunity for achieving sustainable development through the long-term utilization of coastal natural resources.
It has been observed that ASEAN countries and nations around the world are working toward achieving the United Nations’ Sustainable Development Goals by promoting and implementing the principles of the “Blue Economy.” Currently, the Blue Economy is sure to improve the coastal environment and accumulation of marine resources at the seas. In Myanmar, it is necessary for environmentalists to protect Myanmar’s waters including an exclusive economic zone while business people have to implement the blue economy.
The Coastal Resources Multi-Management Plan has been adopted to coordinate efforts across relevant sectors. Additionally, measures are in place to ensure the sustainable extraction of natural resources over the long term. Efforts to conserve valuable underground ecosystems are underway, and the preservation of both underwater and above-water natural resources is evident in the southern waters of Myanmar. These initiatives support the development of the green tourism sector.
Myanmar’s coastline stretches over 1,260 nautical miles and includes more than 1,400 islands, enriched with valuable marine resources both above and below the water, as well as breathtaking coastal natural beauty. As a potential driver of Myanmar’s blue economy, the coastline and its diverse marine ecosystems offer opportunities for various environmental services, support for fisheries and aquaculture of fish, shrimp, and crabs, and the potential to develop coastal and deep-sea fishing industries. Additionally, pearl farming and extraction can also be undertaken.
Moreover, there are promising prospects for the long-term extraction of offshore oil and natural gas, opportunities for generating renewable energy such as solar, water, and wind power, the potential to develop strategic and internationally competitive ports along global trade routes, the presence of naturally occurring coastlines and islands that can foster tourism development, and the ability to preserve and promote the rich cultural heritage of Indigenous coastal populations. By leveraging these various opportunities, the country can significantly contribute to its development and progress.
The blue economy offers numerous opportunities, but at the same time, challenges must be effectively addressed. To achieve sustainable coastal development, the government, private sector, non-governmental organizations, and entrepreneurs must work together to implement practical solutions. According to the respective ministries and regional and state government bodies, actions are being taken to ensure long-term sustainability and balanced development of the coastal areas and inland water bodies.
