Adib Noor
Bank Islam Brunei Darussalam (BIBD) organised a series of panel discussion focussing on the promotion of blue economy as part of its efforts to drive sustainable development and advocate for the conservation and responsible management of ocean resources.
The discussions were part of a symposium on sustaining marine biodiversity through blue economy organised by the Fisheries Department in conjunction with World Ocean Day from June 6-8.
The first session yesterday focussed on ‘Reengineering the consumer mindset through responsible businesses’. Co-founder of Kaimana Living Tiffany Shiyi Lai, General Manager of Barramundi Group Alex Chiam, Education Officer at STEP Centre of the Ministry of Education Dr Andery Lim and Head of Fisheries Business and Investment Division at the Ministry of Primary Resources and Tourism Pengiran Ajmal Faiz bin Pengiran Haji Kamaluddin participated in the discussion.
The speakers shared significant steps which the government, regulators, non-governmental organisations (NGOs) and social enterprises had taken to promote blue economy and sustainable marine management. The government has implemented policies and regulations, established marine protected areas and invested in research, as well as enforced laws and developed monitoring frameworks.
Meanwhile, NGOs have raised awareness, advocated for stronger policies and engaged communities.
Social enterprises have also contributed by creating innovative business models, providing alternative livelihoods and supporting sustainability efforts.
However, challenges such as limited resources, conflicting interests and the need for stronger cooperation from all stakeholders are still present.
Balancing economic development with environmental concerns, addressing illegal fishing and pollution and ensuring the inclusion of marginalised communities are also some challenges in promoting a sustainable blue economy.
The concept of the blue economy encompasses sustainable activities that take place within the marine environment, striking a balance between economic growth, environmental protection, and social well-being.
