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ID:
178277
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| Summary/Abstract |
South Africa is endowed with vast ocean resources and wealth which have the potential to provide enormous socio-economic goods and services to the people and create massive economic growth and wealth if vigorously explored and tapped. This assertion is made against the backdrop of the recent government strategical initiative, under the auspices of ‘Operation Phakisa’, to unlock and explore the full potential of the ocean’s wealth to drive economic growth, create jobs and alleviate poverty. This paper seeks to accentuate that the Operation Phakisa initiative has the potential to strategically unlock underexplored ocean resources for purposes of creating sustainable economic growth, development, and alleviation of hunger and poverty. It concludes that effective and sustainable use of the ocean’s wealth depends on good, efficient governance policies, practices and management. Methodically, a qualitative non-empirical research approach was adopted and utilized in this study by sourcing, drawing upon and using information and insights from contemporary literature to address identified problems.
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| 2 |
ID:
139596
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| Summary/Abstract |
India's lack of a concrete policy towards exploration for mineral resources in high seas and offshore areas has played a role, though to a limited extent, in the exploration projects being awarded to countries like Korea and China in the Indian Ocean. In 2011, China was awarded a large area in the Indian Ocean for mineral exploration. India has thence awakened to the issue and has made amends to its bureaucratic inertia. However, the question is whether these mineral exploration projects and demarcated ocean areas have economic implications only, or have larger strategic significance. In the contemporary debates, the ocean economy is gaining traction with more and more littoral nations seeking to generate revenue as well as royalty from ocean resources. This paper therefore attempts to address the issues of ocean economy, mineral exploration, exclusive economic zones (EEZ), interests of small island nations, and how these issues have a larger strategic implication.
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