Proposing to include Lao Cai in pilot project to reduce emissions in the forestry sector

On August 8, Deputy Minister of Agriculture and Rural Development Nguyen Quoc Tri received the General Director of SK Forest Co.Ltd., Korea, Mr. Daeik Son.

According to Deputy Minister Nguyen Quoc Tri, Vietnam has one of the highest greenhouse gas emission growth rates in the globe. Agriculture and rural development have the potential to reduce greenhouse gas emissions, contribute to the national goal of net zero emissions, and reduce methane emissions from the aforementioned sources.

Deputy Minister Nguyen Quoc Tri stated, "We support and are interested in cooperating with SK Forest on the Project on Reducing greenhouse gas emissions and forest carbon sequestration (REDD+) in the Northern mountainous region." 

Regarding the status of signing the Letter of Intent between the Department of Forestry, the Ministry of Agriculture and Rural Development, and the Korean SK Forest on cooperation to reduce emissions in forestry in the Northern Midlands and Mountains, Deputy Minister Nguyen Quoc Tri reported that the Ministry has tasked the Department of International Cooperation with completing the report and submitting it to the Prime Minister for approval of the signing policy.

Using grants from the Korea International Cooperation Agency (KOICA), this phase's technical assistance initiative seeks to collaborate on greenhouse gas emission reduction, sustainable forest management, environmental protection, and climate change response.

Deputy Minister Nguyen Quoc Tri requested that the company report to the Korea International Cooperation Agency and promptly submit a letter of notification of funding to the Ministry of Agriculture and Rural Development in order to finalize the grant's receipt procedures.

SK Forestry Company of Korea is urged to immediately coordinate with the Ministry of Agriculture and Rural Development's focal agency to develop a proposition for a technical assistance project utilizing KOICA's non-reimbursable aid.

He requested that the Korean company coordinate with Ministry units to finalize the dossier and develop a Letter of Intent between the Department of Forestry and SK Forest Co Ltd South Korea, which will be signed shortly in accordance with regulations.

South Korea has a wealth of experience and technological advantages in the forestry industry. The Korean government supports the model of technical assistance cooperation through the investment of businesses to optimize efficiency, maintain results sustainably, and replicate the model of cooperation.

Mr. Daeik Son, representing SK Forest, stated that after conducting a survey in several provinces since August 2, the Korean side highly values the work and efforts of the Northern mountainous regions to protect forests, particularly in Tuyen Quang and Hoa Binh. State regulations are rigorously adhered to when carrying out forest preservation efforts in local communities.

The enterprise has confirmed that over 30,000 hectares in Tuyen Quang have obtained the FSC Certificate for Sustainable Forest Management. In the province of Phu Tho, deforestation, dereliction, and inadequate management of short-term planted forests persist. Nonetheless, the locations within the special-use forest area are well-managed."

Following Deputy Minister Nguyen Quoc Tri's official visit to South Korea in June, the two sides reached an agreement on the spirit of the project to be implemented in 14 northern midland and mountainous provinces. Regarding the speed of project implementation, the Korean side proposed piloting in three localities namely Hoa Binh, Tuyen Quang, and Phu Tho to test the feasibility prior to mass deployment in other localities. Mr. Daeik Son suggested that it conduct additional assessments in the province of Lao Cai, which has characteristics of a bordering area.

Deputy Minister Nguyen Quoc Tri concurred with the proposal of the SK Forest representative and proposed an increase of 5 million USD in support. According to the Deputy Minister, the initiative must be methodical and practical wherever it is implemented.

SK Forest is a subsidiary of SK Group, Republic of Korea, and the only company in Korea to provide environmental services in the forestry sector, with a commitment to forest restoration and a new mission to support voluntary commitment. It desires to develop and sponsor initiatives with nature-based solutions to generate positive environmental and social impacts.

This project aims to contribute to the conservation, protection, and improvement of forest quality and biodiversity in the Northern Midlands and Mountains of Vietnam, while simultaneously reducing greenhouse gas emissions caused by deforestation and forest degradation for the period of 2022 to 2030, in accordance with the Verified Carbon Standard (VCS).