Oceans and seas cover approximately 71% of the Earth’s surface. They represent a new economic perspective – the Blue Economy, primarily driven by a growing demand for new and sustainable sources of food, jobs, and economic opportunities from marine and ocean resources.
Malaysia being a maritime nation with 4,675 kilometres of coastline and over 870 islands, sustainable ocean and marine resources development will have a significant positive spillover impact on the socio-economic drivers of the country, as identified in the 12th Malaysia Plan and 10-10 MySTIE Framework. A vibrant Blue Economy ecosystem is predicted to potentially increase the contribution of marine and ocean resources from 21.3% to 31.5% of the GDP from 2020 to 2030, which is close to RM1.4 trillion contribution to the Malaysian economy.
Professor Dr Mahendhiran Sanggaran Nair FASc moderated the General Assembly. He set the scene by highlighting that to realise the potential of the Malaysian Blue Economy fully, it is critical for the public-private as well as the community partnerships to facilitate the development of collaborative and co-creative platforms to generate a better return on value (ROV) from the nation’s ocean and marine resources.
The panellists present were Emeritus Professor Dr Phang Siew Moi FASc, Chair, ASM Blue Economy Committee, Deputy Vice-Chancellor (Research & Postgraduate) UCSI University; Professor Dato’ Dr Nor Aieni Haji Mokhtar, Distinguished Fellow INOS, Universiti Malaysia Terengganu, Distinguished Fellow, Maritime Institute Malaysia (MIMA), UN Decade Advisory Board, IOC- UNESCO; and Mr Soo Jee Main President, Association of Marine Industries of Malaysia (AMIM).
The audience was also engaged in providing their views throughout the General Assembly. They fully realise the potential of the Blue Economy in Malaysia. Public-private and community partnerships are critical to facilitate the development of collaborative and co-creative platforms to generate a better return on value (ROV) from the ocean and marine resources of the country.