Vietnam to Gain $120.7M from Forest Environmental Services in 2021

The Vietnam Administration of Forestry (VNFOREST), under the Ministry of Agriculture and Rural Development (MoNRE), has set a goal to collect VND2.8 trillion ($120.7 million) from forest environmental services in 2021, state media reported. Between VND300 billion and VND500 billion will be added to the sector’s annual income thanks to forest carbon sequestration and emission reduction services, VNFOREST Deputy Director Pham Van Dien said. In 2020, the revenue from forest environmental services was VND2.6 trillion, reaching 91% of the yearly target. It supported 226 forest management boards and 138,000 forest owners while creating incomes for 81 forestry companies and livelihoods for more than 172,000 families in mountainous areas. Besides sources from hydropower plants and firms producing clean water, experts recommended collecting environment service fees from other sources like ecotourism businesses, industrial production establishments, and aquaculture facilities. (BNews, bnews.vn, vietnamnet.vn)