Blue Economy in Malaysia: An Endeavour of Achieving the Sustainable Development Goals (SDGs)

Abstract

A wide range of services provided by coasts and oceans, directly and indirectly, contribute to economic activity and growth on a global scale. Under a blue economy, various international organizations promote sustainable coastal and oceanic development, including the United Nations and the Asia-Pacific Economic Cooperation (APEC), and some East Asian economies. More than a third of all research focusing on the blue economy focus on its conception, emphasizing the importance of ocean ecosystem services and ocean governance. However, little research has been done on the Malaysian context of the blue economy and its relevance to the Malaysian government's efforts to achieve the Sustainable Development Goals (SDGs). This qualitative study applied a content analysis approach for data collection and the analysis was presented descriptively. The results of the study found that the Malaysian blue economy concept is in line with six goals highlighted in the SDGs as goal 1 -No Poverty; Goal 2 -Zero Hunger; Goal 9-Industry, Innovation and Infrastructure; Goal 14 -Life Below Water; Goal 15-Climate Change; and Goal 17 -Partnership for the Goals. This study adds to the current literature by investigating the blue economy in the Malaysian context. This conceptual paper will assist policymakers in identifying the primary driving reasons underlying the expansion of Malaysian blue economy activities. This will assist in focusing on policy interventions.

Deciphering blue economy for SMEs in Malaysia: A dual approach through scoping review and stakeholder conversations

“…On the contrary, the profusion of prospects within Malaysia's marine industries, encompassing renewable energy, sustainable fisheries, and marine biotechnology (Ridzuan et al, 2022), implies that the nation stands to gain significantly from policies that foster innovation and sustainable practices. Policymakers have the potential to establish innovation centers with a specific focus on marine-related initiatives.…”

“…Malaysia exhibits a strong interest in the blue economy owing to its advantageous geographical location between the Indian and Pacific Oceans, as well as its expansive coastline (Krishnan, 2020;Millar, 1969). These ecosystems play a crucial role in supporting the country's ports and shipping sectors, mining operations, and offshore oil and gas extraction (Ridzuan et al, 2022). The Blue economy makes a significant contribution of 23 percent to Malaysia's GDP (Azam et al, 2023).…”