Harvesting medicinal herbs under the forest canopy (illustrative photo: Green Alliance )
Accordingly, the project will focus on developing large-timber production forests in a sustainable manner, enhancing the economic value of the forestry sector combined with the cultivation of medicinal plants under the forest canopy in a professional and modern way, creating a high-quality raw material area to serve the traditional medicine and health food industries.
The project will contribute to reducing greenhouse gas emissions, protecting and developing forests, protecting land resources, regulating water resources, limiting erosion, mitigating the impact of natural disasters, responding to climate change, promoting green growth, and gradually accessing the carbon credit market, while also creating jobs and increasing income for local people.
The project, covering approximately 60.55 hectares with an estimated total investment of around 27 billion VND, will be implemented on plot 7, sub-area 126, Binh Dien commune, Hue city, and will be subject to a bidding process to select an investor in accordance with the law. The investor must ensure sufficient capital for project implementation after the selection results are approved. This includes a minimum of 4 billion VND in equity capital, accounting for at least 15% of the total investment; and a maximum of 23 billion VND in mobilized capital, accounting for a maximum of 85% of the total investment. The project must also commence construction no later than 12 months from the date of land allocation, lease, or permission to change land use purpose; and be completed and put into operation no later than 24 months from the date of land allocation. The project's operating period is 50 years from the date the investor is granted land allocation, lease, or permission to change land use purpose.
When implementing the project, investors will receive many incentives related to the industry and geographical area with particularly difficult socio-economic conditions; they will be exempt from land rent for 15 years and receive other preferential policies on investment and taxes as prescribed by law.