It said the country has freshly signed an emissions reduction purchase agreement with Emergent, a non-profit intermediary engaging between tropical forest countries and the private sector to mobilise finance to support emissions reductions in deforestation.

Vietnam currently houses 14.79 million ha of forest, a coverage rate of 42%.

Accordingly, Vietnam is set to transfer to the forest financing organisation 5.15 million tonnes of carbon dioxide that cost at least 10 USD per tonne in the 2022-2026 period.

The Ministry of Agriculture and Rural Development has already put forth seven targets and 11 solutions for forestry work this year, with a focus on completing the national forestry planning and supporting firms involved in transition from forestry production to forestry business.

Vietnam currently houses 14.79 million ha of forest, a coverage rate of 42%. The forestry production value grows stably at a rate of 4.6% and revenue from environmental protection services nears 11 trillion VND (445.56 million USD).

Last year, the nation, for the first time, sold more than 10 million carbon credits for over 50 million USD, ranking among the 60 countries worldwide with the highest capacity for the carbon trade.

Vietnam industry & trade sector looks good in early 2024

The strong recovery of industrial production, the exponential rise in exports, abundant goods supply, and good revenue from services in January paint a rosy picture for the domestic industry and trade sector this year, heard an online conference held by the Ministry of Industry and Trade (MoIT) on February 16.

Vietnam enjoys trade surplus of 2.92 billion USD in first month of 2024

Vietnam’s export value has been estimated at 33.57 billion USD in January 2024, a sharp surge of 42% over the same period last year, contributing to generating a trade surplus of 2.92 billion USD in the first month of this year.

Vietnam remains RoK's third trade partner in 2023

Vietnam remained the Republic of Korea (RoK)’s third-largest trade partner for the second straight year in 2023, data showed.

Vietnam to cash in on FTAs, trade promotions to boost exports

The Ministry of Industry and Trade (MoIT) will capitalise on signed free trade agreements (FTAs) to diversify markets, step up trade promotions and shift to exports through official channels with a view to gaining 377 billion USD in export revenue this year.

Vietnam, China see surge in border trade, with more to come

Trade activities between Vietnam and China have been busy since the beginning of 2024, with a series of border gates reopened and upgraded.

Source: VNA