Vietnam’s Forestry Sector Collects $457.92M from Envir Services in 2021-2023
Vietnam’s forestry industry earned nearly VND10.99 trillion ($457.92 million) from forest environmental services in three years of the Vietnam Forestry Strategy implementation (2021-2023), according to a report from the Department of Forestry under the Ministry of Agriculture and Rural Development (MARD).
The department announced the figure at a seminar on solutions to implement the Vietnam Forestry Development Strategy in the new context. The event was organized by the MARD in Hanoi on February 27.
On average, the country earned VND3.65 trillion annually from forest environmental services in the period.
Vietnam collected over VND4.13 trillion from forest environmental services in 2023, including VND997.03 billion from forest carbon absorption and storage services and more than VND3.13 trillion from hydropower, clean water, industry, ecotourism, aquaculture, and other facilities.
The forest environmental service earnings contributed to protecting more than 7.3 million hectares of forest in 2021-2023, accounting for 49.6% of the total forest area nationwide.