Vietnam to spend $138 mln on East Sea

TN News

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Vietnam's parliament on Monday approved a resolution to the 2012 state budget to spend VND2.9 trillion (US$138 million) on activities to develop the marine economy and to ensure national defense and security on the East Sea.

Among other things, funding will be spent on providing equipment for Vietnamese fishermen and to ensure safety for the fishermen on Vietnamese waters.

Funding also will support infrastructure and people's livelihoods on inhabited islands.

Budget monies also will be spent on more equipment for marine police to protect the country's sovereignty on the East Sea.

The Vietnamese sea is more than 1 million square kilometers, has more than 4,000 islands and is home to 11,000 species.

It is forecast that the marine economy will make up more than 50 percent of the country's GDP by 2020.

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