Forest environmental services to bring about 2.8 trillion VND in 2021
The Vietnam Administration of Forestry (VNFOREST) aims to collect 2.8 trillion VND (121.7 million USD) from forest environmental services this year.
According to VNFOREST Deputy Director Pham Van Dien, forest carbon sequestration and emission reduction services, a new feature of 2021, will add between 300 to 500 billion VND to the sector’s annual income from environmental services.
Last year, the revenue from those services stood at 2.56 trillion VND, meeting 91 percent of the yearly target
The number fell short of expectation due largely to severe water shortage taking place at large hydropower reservoirs between the fourth quarter of 2019 and the second quarter of 2020, said the Vietnam Forest Protection and Development Fund (VNFF). The shortage affected business performance of hydro power companies.
In addition, complicated developments of the COVID-19 pandemic locally and globally last year directly impacted businesses employing these services.
