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Gov’t approves US$ 3.55 billion program to modernize forestry sector

VGP - The Government has recently approved a project worth VND 78,585 billion (US$ 3.55 billion) to develop forestry sector in a sustainable manner in the 2021-2025 period.

July 13, 2022 7:40 PM GMT+7
Gov’t passes US$ 3.55 billion program to modernize forestry sector - Ảnh 1.

Viet Nam is determined to pursue sustainable forestry models in a bid to materalize its commitments at the 26th Conference of the Parties to the United Nations Framework Convention on Climate Change (COP26) - Illustration photo

This is part of Decision No. 809/QD-TTg, dated July 12, 2022 signed by Deputy Prime Minister Le Van Thanh, to approve the program on sustainable forestry development in 2021-2025.

The program will be implemented nationwide by 2025.

It targets to develop forestry sector in a modern, effective, and highly competitive manner, boost chain linkages from forest development, protection, forestry processing, and trade.

The program also aims to optimize forestry areas and land for forestry development, thus making contribution to socio-economic development, job generation, protection of the environment and conservation of biodiversity of forest ecosystems.

Especially, the program targets to reduce greenhouse gas emissions, and contribute to the implementation of Viet Nam's commitments at the 26th Conference of the Parties to the United Nations Framework Convention on Climate Change (COP26).

Key goals

The program sets a goal to maintain stably the national forest coverage at 42 percent and raise the growth rate of forestry production value by 5.0-5.5 percent annually.

Export turnovers of woodwork and none-timber forest products are expected to reach about US$ 20 billion and US$ 1.5 billion by 2025, respectively.

Deep processing rates and export of high added value woodwork and forest products will be on the rise.

To materialize the aforesaid goals, the program set a series of tasks including forestry protection, conservation of biodiversity of forest ecosystems, development of forests, improvement of forest productivity and quality, sustainable forest management, and enforcement of forest certifications for planted production forests./.