HA NOI - Australia will grant AU$919,000 to help Viet Nam implement projects to develop the nation’s forest and timber resources.
The Ministry of Agriculture and Rural Development and the Australian Embassy signed an agreement in Ha Noi on Thursday.
Grant funds pledged pursuant to the agreement will be used for projects to domesticate certain species of trees in Southeast Asia and Australia, and to increase the timber output of eucalyptus forests in China, Viet Nam and Australia.
These projects, assigned to the Viet Nam Institute of Forestry Research, is expected to increase trade in some important forestry products. According to Deputy Minister of Agriculture and Rural Development Hua Duc Nhi, the two projects would develop highly valuable tree species in Viet Nam, promote the export of wood products, and increase sustainable management of forest resources.
Since 1993, Australia has assisted Viet Nam in 93 projects related to agro-forestry development and irrigation. About 56 projects of these have become operational. Australia has pledged to continue its support and about AU$3 million was expected to be granted in 2005-06.