BUSINESS, NATIONAL, INTERNATIONAL, DILI, ENVIRONMENT

UNDP Economy Expert defines “Blue Economy” as a project to ensure economic sustainability

UNDP Economy Expert defines “Blue Economy” as a project to ensure economic sustainability

DILI, March 2, 2023 (TATOLI)– Blue Economy Experts from the United Nations Development Program (UNDP) define a Blue Economy as a project that aims to ensure economic sustainability and improve the livelihoods of people around the world and even bring prosperity to Timor-Leste.

UNDP Blue Economy Policy Specialist, Amos C. Peters said the Blue Economy must be fully comprehensive in enhancing human well-being in a socially inclusive way, while being economically sustainable, and providing jobs for the unemployed.

The blue economy also focuses on conserving the earth, while exploring marine resources for economic diversification but without harming the marine environment.

“We must take action to promote human well-being and socially inclusive ways. People should focus on caring for the earth’s plants. This concept can be reflected in Marine-Based and Land-Based,” said UNDP Blue Economy Expert, Peter at a roundtable activity held at City8, Manleuana, this Thursday.

Therefore, according to Peter, it is necessary to balance human activities by exploring sea-based and land-based, which do not damage nature and species in both concepts.

However, a Blue Economy can also conceptualize the economy and engage entrepreneurs to explore marine and land resources for economic development that contribute most to economic growth in the country as well as at the international level.

Meantime, MTCI and UNDP have worked together to prepare 500 Timorese for the Business Innovation Competition Plan, also contributing to the blue economy concept.

MTCI Deputy Minister, Domingos Lopes Atunes said the government’s efforts to provide police to support economic diversification anchored in entrepreneurship saying because it requires more development in the fields of Trade, Industry, value chains, and economic development.

“MTCI believes that the Business Innovation Competition Plan reflects the blue economy concept, which contributes to the diversification of the country’s economy,” he said.

Antunes said MTCI plans to establish Timor-Leste’s first industrial park in the municipality of Liquica which can provide more job opportunities for East Timorese youth and can also contribute to a sustainable economy.

In addition, Timor-Leste needs more Blue Economy program development focused on seven productive sectors as Agriculture, Fisheries, Industry, Tourism, Technology, and food innovation.

The Blue Economy so far provides more than 5.4 million jobs for the global population and generates almost over 500 billion USD in a year.

Journalist: José Belarmino De Sá
Editor: Nelia B.

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