Vietnam PM Asks Ministries to Research on Forestry Carbon Credit

Vietnamese Prime Minister Nguyen Xuan Phuc has assigned the Ministry of Natural Resources and Environment (MoNRE) and the Ministry of Agricultural and Rural Development (MARD) to research on the forestry carbon credit issue, state media reported. The decision was released after the national television broadcaster Vietnam Television (VTV) reported that Vietnam can sell 57 million carbon credits to foreign markets each year and gain hundreds of millions of USD. Developing countries are actively joining in the forestry carbon credit market to receive financial investment from industrialized countries, VTV noted. In Vietnam, central Quang Nam province is a potential locality for such issue with 628,000 hectares of natural forest, expecting to sell one million carbon credits to the world per year. (VTV, VTV, Bao Chinh Phu)