The government of Vietnam will try to raise sufficient fund of VND1.5 trillion, or US$93.75 million a year for its national five-million-hectare-reforestation program (5MHRP) from now to 2010, promised Deputy Prime Minister Hoang Trung Hai.
The government previously okayed total investment of VND15 trillion or US$937.5 million for the 5MHRP in 2006-2010 period.
Hai made the commitment at a conference in Hanoi December 12 on implementation of the program, which began in 1998 with the aim to raise forest coverage to 43 per cent by the time.
To meet the goal, the country will have to plant an additional 1.8 million hectares of forest in the next three years, including one million hectares of protective forest and 800,000 hectares of production forest, mostly in central highlands, southeastern and northwestern regions.
The Deputy PM added that the government will set up inter-sectoral teams to inspect the use of funding and effectiveness of the program.
At the conference, Minister of Agriculture and Rural Development Cao Duc Phat affirmed that the government encourages organizations, households and individuals of various economic sectors to invest in forestation and forest products processing in accordance with legal regulations on forest protection and development.
Vietnam’s forest coverage rate has reached 38 per cent as of early 2007, with total forest area being 12.873 million hectares, up by 1 per cent from 2005 and including 10.42 million hectares of natural forest and 2.46 million hectares of planted forest.
In terms of functional classification, forests for special use covered 2.2 million hectares, protective forests, 5.27 million hectares and forests for production, 5.4 million hectares.
According to latest report by the General Statistics Office, localities nationwide have protected more than two million hectares of forest and planted 169,069 hectares more in the first 11 months of 2007, including 33,863 hectares of protective (75 per cent of yearly plan) and 138,206 hectares of production (83 per cent of yearly plan).
Total investment in the forestation was estimated at VND1,077 billion (US$67.3 million) as of late November 2007, with VND622 billion coming from state budget and around VND50 billion from other sources.
Vietnam sets target to grow 207,000 more hectares of forest in 2008, including 47,000 hectares of protective and 160,000 of production.
Phat said the Ministry of Agriculture and Rural Development will ask for permission from the Government to issue bonds in order to mobilize sufficient money for the program.
Vietnam spent around VND8 trillion (US$500 million) in the 5MHRP in the1998-2005 period. (Local sources)
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