A ceremony was held in London, the UK, on May 5 to announce the investment, under the presence of Foreign Minister Bui Thanh Son, Vietnamese Ambassador to the UK Nguyen Hoang Long, and global and regional leaders of AstraZeneca.
Over the next 5 years, it is expected that 22.5 million trees will be planted on more than 30,500 hectares of land, to restore forests and landscapes in Vietnam, facilitate the development of biodiversity and supplement sustainable livelihoods for more than 17,000 farmers’ households.
Reforestation will be designed to maximise co-benefits, such as biodiversity benefits on a large scale, improvement of food and nutrition for local communities, soil and water conservation, enhancement of adaptability to climate change, reduction of risks of natural disasters and carbon sequestration.
The AZ Forest Programme will also contribute to the project of planting 1 billion trees by 2025, within the framework of the Vietnam Forestry Development Strategy.
According to Foreign Minister Bui Thanh Son, the investment announced by AstraZeneca will make important contributions to supporting the Vietnamese Government's strong commitment to net zero emissions by 2050, at the COP26 Summit.
Chairman and General Director of AstraZeneca Vietnam and Asia Area Frontier Markets Nitin Kapoor, expressed his pleasure at the programme and affirmed AstraZeneca’s long-term commitment to Vietnam.
The 50 million USD investment will be used for the agroforestry sector, including sustainable production of timber, fruits, seeds, essential oils and resins; the improvement of agricultural productivity through intercropping; and the development of the market value chain, in a sustainable manner.
The newly announced investment follows AstraZeneca's 310 million USD investment into Vietnam during the 2020-2023 period, aiming to reduce the burden of disease, strengthen the health system, improve the research and manufacturing capability of biological products in the country, and develop talents.
