Economy

ISAAC ATASIGE WRITES: A LITTLE GIST ON THE CREATION OF THE MINISTRY OF THE BLUE ECONOMY

Asempa DawuroAsempa Dawuro
Dec 15, 2023 - 17:28
Dec 15, 2023 - 17:52
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ISAAC ATASIGE WRITES: A LITTLE GIST ON THE CREATION OF THE MINISTRY OF THE BLUE ECONOMY
Ing Isaac Atasige is advocating for the creation of the Ministry of the Blue Economy

A blue economy is a green economy in a blue world that adopts a novel strategy for economically utilizing the resources of oceans, lakes, rivers, and other water bodies.

Even as the oceans are exploited for economic gains, their sustainability is always emphasized. Fishing, coastal leisure and tourism, shipbuilding, seawater desalination, offshore oil and gas, and shipping (maritime transportation) are some of the economic activities in the blue economy.

But more recently, new industries have emerged in deep sea mining, biotechnology, aquaculture, seabed extraction, offshore renewable energy, and blue carbon sequestration.

The blue economy has tremendous economic promise and capability. It is estimated that oceans contribute US$ 1.5 trillion to the global economy annually and has an estimated asset value of US$ 24 trillion.

It is also important to take note that the livelihood of nearly three billion people depends on ocean resources. According to estimates from the African Union (AU), the blue economy currently brings in US$ 300 billion for the continent and supports 49 million jobs.

Tapping into the potential of the blue economy for massive economic growth is a converging point for experts, professionals, and national governments alike African countries such as Nigeria, Madagascar, Kenya, South Africa, and Somalia have potential blue economies.

 Agencies in Ghana like the Regional Maritime University (RMU), Ghana shippers Authority (GSA), Ghana Maritime Authority (GMA), and Ghana Ports and Harbours Authority (GPHA).

 Others are the Driver Vehicle License Authority (DVLA) and Ghana Private Road and Transport Union (GPRTU), are all under the Ministry of Transport, which does not potentially reflect the desired services.

Ideally, they should had been under the Ministry of the Blue Economy.

It is important to note that transport is just a small fraction of the Ministry of the Blue Economy hence the need to consider the creation of the Ministry of the Blue Economy to harness the natural resources to its fullest.

It is a potential ministry that will turn the fortunes of Ghana’s economy. Most of the lakes and rivers will only need dredging to facilitate the movement of goods and passengers.

Under this suggested ministry, every stage of the economic chain provides jobs.

The blue economy will provide food, water, and jobs and enhance the manufacturing sector.

 Given that the discussion should start now.

The Writer, Isaac Atasige, is an Engineer, Project Manager and Procurement Manager.

For publication and circulation, contact,

 Odopa2@gmail.com +233558189777

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