Signaling its commitment to forest conservation and management, in 2008 Vietnam became the first country in Asia to introduce a nationwide Payment for Forest Ecosystem Services (PFES) scheme. It was designed to account for the value of services provided by the forestry sector and protect the vital benefits forests provide to people – from carbon sequestration, watershed protection, sediment reduction in reservoirs to biodiversity conservation and provision of water for aquaculture and industrial uses.

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