Prince Albert II of Monaco welcomes Prime Minister Pham Minh Chinh to the Blue Economy and Finance Forum at UNOC 3 (Photo: VGP)
The Vietnamese Government chief's first engagement at UNOC 3 was attending Plenary Session 4 and the closing session of the Blue Economy and Finance Forum, held in the Principality of Monaco.
Prior to this, PM Chinh and his spouse attended a welcome ceremony for heads of delegation and their spouses attending UNOC 3. The event, held at the Grimaldi Forum, was hosted by Prince Albert II of Monaco.
Taking place on June 7–8, the Blue Economy and Finance Forum is a key sideline event of UNOC 3. It was co-organized by the Royal Family of Monaco, the Prince Albert II of Monaco Foundation, and the Monaco Oceanographic Institute.
The forum brought together leading experts, policymakers, and investors from around the world to emphasize the vital role of sustainable investment, modern innovation, and forward-looking policies in ensuring the health and prosperity of the oceans and ocean economies.
According to the Organisation for Economic Co-operation and Development (OECD), the ocean economy is projected to exceed US$3 trillion by 2030. It is estimated that about US$175 billion per year will be needed to ensure a sustainable, inclusive ocean economy, thus requiring stronger cooperation among governments, intergovernmental organizations, the private sector, and civil society.
Convened every three years by the UN Secretary-General and co-hosted by one developed and one developing country, the UN Ocean Conference is a major high-level United Nations event on ocean-related sustainable development, drawing wide attention from the global community.
PM Pham Minh Chinh delivers a speech at the Blue Economy and Finance Forum (Photo: VGP)
It serves as a global platform to propose initiatives and solutions in support of Sustainable Development Goal 14 (SDG 14): conserving and sustainably using the oceans, seas and marine resources, under the UN 2030 Agenda for Sustainable Development.
By 2025, implementation of SDG 14 has recorded notable progress, such as a remarkable increase in the total area of global marine protected areas and the emergence of numerous important international commitments and agreements. However, progress on many targets remains slow, and several indicators are unlikely to be achieved on time by 2030.
With the overarching theme “Accelerating action and mobilizing all actors to conserve and sustainably use the ocean,” UNOC 3 is of great importance, shaping the global direction for the final phase of SDG implementation toward 2030.
The conference includes 10 plenary sessions and 10 interactive dialogues focusing on urgent global ocean issues and the need to enhance international cooperation to mobilize and diversify financial, scientific, and technological resources. These efforts aim to tackle pressing challenges and improve ocean governance, contributing to sustainable long-term development.
UNOC 3 attracted participation from numerous heads of state, senior officials, and representatives from countries, including Greece, Norway, Brazil, Peru, Costa Rica, Cabo Verde, Comoros, Guinea-Bissau, the Philippines, Indonesia, Japan, India, China, Cambodia, and Vietnam.
The conference also features participants from international organizations such as the United Nations, the Food and Agriculture Organization, as well as business leaders, global donors, and marine environmental advocates.
As such, the conference outcomes are expected to significantly influence global, regional, and national marine governance policies and actions, including the agendas of relevant international and regional organizations.
Vietnam has long affirmed its role as an active and responsible member of the international community, committed to international law, especially the 1982 United Nations Convention on the Law of the Sea (UNCLOS). The country has been proactive in conserving and sustainably using ocean resources, and has taken strong and concrete measures to carry out SDG 14.
At previous conferences, Vietnam sent representatives to provide insights at both plenary and thematic sessions, whole joining the global effort to conserve and sustainably manage oceans and marine resources.
This is the first time a Vietnamese Prime Minister has attended a UN Ocean Conference, demonstrating the country’s proactive engagement and strong commitment to dealing with global issues.
It also aligns with the strategic directions of the Party and State for sustainable ocean-based economic development and strengthens partnerships for a peaceful, stable, sustainable, and prosperous blue ocean, consistent with the conference’s goals.
Participation in UNOC 3 also presents an opportunity for Vietnam to show its progress in implementing SDG 14, exchange international experience, and step up cooperation in science, technology, equipment, and financing to accelerate SDG 14 implementation domestically.
