malaysiangJakarta: Indonesia wields enormous blue economic potential since the country’s seas are home to almost 60% of the world’s coral reefs and store abundant gas and fishery resources, said Indonesian Minister of National Development Planning Suharso Monoarfa.
About 56 – 58% of the world’s coral reefs are in Indonesia, most of which can be found in Raja Ampat (West Papua province) and Sawu Sea (East Nusa Tenggara province), he told the Indonesia Development Forum 2023 on December 18.
He emphasised that seas constitute priceless assets of the archipelago nation, considering that they store abundant amounts of natural gas as well as wealth of fishery resources.
The official cited a study in 2020 as saying that Indonesia’s enormous blue economy potential is also reflected in the country’s potential value of marine and fishery sectors reaching 1.3 trillion USD per year.
The blue economy is expected to create around 12 million new job opportunities by 2030, provide 40 times more renewable energy by 2050, and increa
se marine-based food supply by six folds by 2050, Monoarfsa pointed out, adding the potential benefits gained from investment in the blue economy are expected to hit 15.5 trillion USD by 2050.
The minister expressed his belief that by optimising its large blue economy potential, Indonesia would yield economic benefits while ensuring protection for biodiversity and significantly lowering greenhouse gas emissions./.
Source: Vietnam News Agency
