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processing technology or enhancing legal compliance, Vietnam’s international and domestic private sources via carbon trading.
wood industry is laying the groundwork for a more resilient He noted that planted forests owned by households
and competitive future. should be considered private assets and relevant regulations
As one of the country’s top export earners, the industry’s and decrees should be expanded to give them full rights to

ability to adapt will determine not only its own trajectory but form joint ventures and partnerships and participate in the
also Vietnam’s broader reputation in sustainable and value- carbon market.
added manufacturing. He also recommended that for state-owned forest lands,
once national contribution calculations are completed, policies
Vietnam completes legal framework for forest carbon should allow cooperation from businesses and projects to
market generate carbon credits for trading at home and abroad.
The draft decree on forest carbon sequestration and storage He underlined the importance of transparency in carbon
services marks the first attempt to establish a domestic transactions after Vietnam fulfils its nationally determined
standard for forest carbon while aligning with international contributions (NDCs).

carbon credit systems. Nghiem Phuong Thuy of the Department of Forestry and
It clearly defines eligible service providers and buyers, Forest Protection described the decree as a step toward
allowing both public and private entities to supply or purchase translating Vietnam’s net-zero pledge by 2050 into actionable
credits through contracts or a national carbon exchange. policies in the forestry sector.
Vietnam is pushing forward with efforts to establish a legal It includes provisions on carbon credit certification, revenue
framework for the forest carbon market, aiming to mobilise new management, and carbon exchange mechanisms.
financial resources for sustainable forestry and climate goals. She added that the decree clearly defines eligible service

At a seminar held in Hanoi on 15 July co-hosted by providers and buyers, allowing both public and private entities
the Vietnam Forest Owners Association and Forest Trends, to supply or purchase credits through contracts or a national
stakeholders discussed a draft decree on forest carbon carbon exchange.
sequestration and storage services, which is currently under Thuy concluded that the legal framework is essential not
review by the Ministry of Agriculture and Environment. only to meet international transparency requirements but
Speaking at the event, the Director the Department of also to unlock additional funding for forest protection and
Forestry and Forest Protection, Tran Quang Bao, said the draft development in Vietnam.
is designed to ease administrative procedures and facilitate
forest owners’ participation in carbon trading.

He noted that once adopted, the decree would give carbon Pixabay
credit holders more autonomy in domestic and international
transactions.
According to Bao, the draft also aims to attract private-
sector involvement to boost forest reserves, which is key
to achieving sustainable forest development and realising
Vietnam’s commitment to emissions reduction.

To Xuan Phuc, a senior expert from Forest Trends, said
the decree is expected to draw financial flows from both