Vietnam Plants 250,000 Hectares of Forest in 2023: Department
Vietnam is estimated to have planted about 250,000 hectares of forests this year, with the coverage rate reaching the target at 42.02%, according to the Department of Forestry under the Ministry of Agriculture and Rural Development (MARD).
This year, the functional agencies have detected 3,327 forest destructions with 1,047.8 hectares; and 310 forest fires with 674.5 hectares affected.
The country has seen an export value of VND14.39 trillion ($599.58 million) from shipping forestry products in 2023, down 15.8% due to tightened consumer spending in the U.S. and EU markets on non-essential products, including wood products.
In 2023, Vietnam has completed procedures to successfully transfer 10.3 million tons of carbon emission reduction, equivalent to $51.5 million, to the Forest Carbon Partnership Facility (FCPF) via the Word Bank (WB). To date, the country receives $41.2 million, equivalent to 80% of the total funding, from such carbon emission reduction.
Vietnam’s forestry sector has set a goal to plant 245,000 hectares of forest in 2024, with a forest coverage rate of 42.02%. It also aims to earn $17.5 billion from exporting forestry products, with the growth rate of forestry production value reaching 5%-5.5%.