The market of forest payments for environmental services in Vietnam after fifteen years of its implementation

Abstract. Pham TL, Mai TTX, Ngo T. 2025. The market of forest payments for environmental services in Vietnam after fifteen years of its implementation. Asian J For 9: 75-81. Sustainable development is a core concern for most countries and entities across the globe despite the fact that there is a trade-off between environmental sustainability and economic growth. Many countries are focusing on Sustainable Development Goals (SDGs), such as SDG11: Sustainable cities and communities, SDG14: Life below water, and SDG15: Life on land. Meanwhile, the people still face challenges like unemployment and poverty, worsened by the recent pandemic. Innovative tools like Payments for Environmental Services (PES) have gained importance, and Vietnam was the first ASEAN country to implement forest PES (FPES) in 2008. Over the past 15 years, despite its achievements, such as raising individual income and government budget generation, some challenges still persist, including administrative inefficiencies and market inequalities. This study re-examined the development of Vietnam's FPES market, highlighting its contributions to the national and provincial budgets, forest protection, and cash income for forest owners. Importantly, the study also analyzed the society's awareness and knowledge of the FPES market, particularly in terms of market participants and price mechanism. We found that ongoing improvements in official training and education, as well as market mechanisms, are needed to enhance public awareness and participation in the FPES market. The integration of poverty alleviation and (forest) environmental protection in Vietnam is a collective responsibility, and this study aims to engage the audience in this crucial task.