Forestry production expected to rise 5.5% annually in 2021-2025 period

Vietnam’s forestry production is expected to rise 5.5% annually in 2021-2025 period. (Photo: NDO)

NDO/VNA – Vietnam aims for a growth at 5-5.5% each year in forestry production in the 2021-2025 period, according to a Government resolution approving the investment policy for the sustainable forestry development programme in the next five years.

Under Resolution No. 84/NQ-CP issued on August 8, forestry will be developed into a modern, effective and competitive sector with strong production chains.

In 2025, export value of wood and forestry products is hoped to reach US$20 billion, including US$1.5 billion from non-timber products, with higher processing ratio.

In 2025, income from planted production forest is expected to rise about 1.5 times compared to that in 2020.

The sustainable forestry development programme targets the sustainable management, protection, development and exploitation of forests, thus contributing to creating jobs, protecting the ecosystem, eco-diversity, strengthening capacity to adapt to climate change, and protecting national defence and security.

The programme will focus on maintaining the existing forest coverage of 42% in a sustainable manner and developing new areas in 2021-2025. Alongside, the productivity and quality of forest will be improved to meet both the demand of materials for production and environment protection.

The resolution also underlines the need to prevent wildfire and expand special-used, preventive and coastal forests, as well as to design policies to encourage businesses to invest in rural areas.

The total budget of the programme is estimated at VND78.85 trillion (VND3.42 billion), 17.4% of which will be funded by the State budget and 82.6% from other sources.