HCMC – Vietnam planted nearly 770 million trees in 2021-2023, reaching 77% of its goal to plant one billion trees in the 2021-2025 period.
Nearly VND9.5 trillion was raised for forest planting, of which about 24% came from the state budget and the rest from official development assistance (ODA), money raised from the public, and other channels.
As a result of this investment, Vietnam has a forest coverage rate of over 42%, with certified forested areas totaling 465,000 hectares.
In 2023, Vietnam traded 10.3 million tons of carbon emissions reductions through the World Bank at a rate of US$5 per ton of CO2 equivalent, amounting to US$51.5 million (VND1.27 trillion).
In the 2024-2025 phase, the forestry sector and local authorities plan to plant an additional 492 million trees in various locations. However, challenges are emerging as some regions have difficulties in doing it due to diminishing land reserves for afforestation.
This scarcity results from the conversion of much land into non-forestry purposes, along with some localities seeking to repurpose forest land for economic development.
Despite the remarkable progress in the afforestation drive, challenges persist. Annual budget allocations for forest development are below actual needs.
In April 2021, the prime minister approved an ambitious plan for planting one billion trees in 2021-2025. The plan outlines the planting of 690 million trees in urban and rural areas, with an additional 310 million trees in protective and natural forests.
