The European Union (EU) has pledged a grant of €20 million to support Vietnam's forestry sector, which is expected to contribute to promoting green, sustainable, and inclusive growth while reducing vulnerability to climate change in Vietnam.
The Ministry of Agriculture and Environment, in collaboration with the EU Delegation to Vietnam, organized a ceremony to sign the financial agreement for the project in Hanoi on March 24.
Under the agreement, the EU commits to providing a non-refundable grant of €20 million from official development assistance (ODA) funds to implement the project over five years.
Addressing the ceremony, EU Commissioner for International Partnerships Jozef Síkela highlighted the need for the EU and Vietnam to strengthen cooperation in forest protection, monitoring, and prevention of deforestation, ensuring compliance with EU regulations, and expanding cooperation into areas such as circular economy, agriculture, and environment.
He expressed hope that the two sides could implement a circular economy project and complete approval by the end of 2026.
Deputy Minister of Agriculture and Environment Nguyen Quoc Tri hoped that the EU would join Vietnam in promoting the blue economy through enhanced marine governance, coral reef conservation, mangrove forests, and the transfer of renewable energy technology. Vietnam also proposed that the EU share experiences in ensuring water security and exploiting essential mineral resources.
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