Vietnam PM Approves $24.2M for Marine Reserves by 2020

Vietnamese Prime Minister Nguyen Tan Dung has approved a scheme worth VND460 billion ($24.2 million) to set up marine protected areas from now up to 2020. In the first five-year phase costing VND300 billion, Vietnam aims to set up 16 marine protected areas, the government of Vietnam said on its website. The country targets at least 0.24% of Vietnam’s sea area belongs to these protected areas and 30% of each marine reserve is protected by 2015. The second phase will focus on expanding areas of the available reserves and establish more new ones. The Vietnamese government also plans to build mechanisms to encourage individuals and organizations to invest in the construction and management of marine reserves. Vietnam has recently approved an $8.5-billion plan for defense and economic development in marine areas and islands, including the Spratly archipelago through 2020.