Supporting Resilient Coastal Economies in Vietnam | PART A : Practical Guidance for Assessing the Value of Key Natural Assets in Coastal Areas
2022
World Bank
Inclusive and environmentally sound sustainable development requires managing natural resources that societies depend on for the long term. In the context of marine and coastal resources which provide an important source of income for large numbers of households and revenue for countries, this implies balancing the economic, social, and environmental dimensions of the use of the natural resources in marine and coastal areas. The term “blue economy” is increasingly being used to describe this balanced approach. For coastal countries such as Vietnam, the importance of its marine economy is well known. The country has used the goods and services provided by the natural assets in its near-shore and coastal areas – including fisheries, mangroves, wetlands, lagoons, and sandy beaches – for tourism, production of seafood, and controlling climate events that cause erosion and weathering. This report focuses on adapting guidance for the valuation of key natural assets in coastal areas to Vietnam’s context, considering data availability and the nature of the natural assets in the country. The content of the report was developed following efforts to value natural assets in coastal areas in selected locations in Vietnam with the intention of providing relevant guidance for scaling out such efforts and ensuring they are done in a systematic manner and can inform the implementation of the Marine Strategy to 2030 with a view to 2045.
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