Vietnam to Inject US$25Bln into Production Forest Program by 2015
Prime Minister Nguyen Tan Dung has ratified overall program developing two million hectares of production forest from 2007 to 2015, which will absorb totally VND40 trillion (nearly US$25 billion).
According to a Prime Minister’s decision on the development of forests from now until 2015, the State will encourage organizations, family households and individuals to invest in forestation and the timber processing industry.
Economic sectors involved in planting forests in disadvantaged communes, particularly in the northwestern region, the Central Highlands and mountainous districts of the central provinces, will also receive priority assistance from the State.
The State will provide part of the initial expenses to develop forest coverage as long as forest development is combined with the timber processing industry in a sustainable manner.
Those planters receiving financial assistance, but not fulfilling forestation plan after four years will have to give money back or pour their own money into the forestation.
Forestry already developed with official development assistance (ODA) capital will not benefit from the decision.
The program is expected to help the country’s woodwork and paper industries calm down materials for processing, which has hindered their development over the past times.
Vietnam now has 5.4 million hectares of production forest. (VNA, People’s Army)
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