ASTRAZENECA ANNOUNCES UP TO $50 MILLION INVESTMENT IN FORESTS AND LANDSCAPE RESTORATION IN VIETNAM
AstraZeneca has announced a new investment of up to $50 million (1.2 trillion VND) into Vietnam, as part of the Company’s global AZ Forest programme, which by the end of 2022 had planted over 10.5 million trees worldwide.
Over the next five years, 22.5 million trees will be planted across at least 30,500 hectares to restore Vietnam’s forests and landscapes, allowing biodiversity to flourish, and providing sustainable livelihoods for over 17,000 smallholder farmers. Reforestation will be designed to maximise co-benefits such as:
- Broad-scale biodiversity gains
- Improved diets and nutrition for local communities
- Soil and water conservation
- Climate resilience, reducing the risks of natural disasters
- Carbon sequestration
The announcement ceremony in London, UK, on 5th May was attended by H.E. Bui Thanh Son, Vietnam Minister of Foreign Affairs, H.E. Nguyen Hoang Long, Vietnam Ambassador to the UK, and AstraZeneca global and regional leaders.
Foreign Minister Bui Thanh Son shared at the ceremony that the investment announced by AstraZeneca would play an important role in supporting the Vietnamese Government’s 2050 net zero strategy which was committed at COP26. The AZ Forest programme would also contribute to the country’s ongoing plan to plant one billion trees by 2025, as part of Vietnam’s Forestry Development Strategy. Minister Bui Thanh Son highly appreciated AstraZeneca’s ongoing strong collaboration, to not only improve the health of Vietnamese people but also support our sustainable development.
Nitin Kapoor, BritCham Board Member, Chairman and General Director of AstraZeneca Vietnam and Asia Area Frontier Markets, said: “Following the discussion between Prime Minister Pham Minh Chinh and AstraZeneca CEO Sir Pascal Soriot in Hanoi last May, we are pleased to announce this programme which further demonstrates our long-term commitment to Vietnam. We recognise the deep interconnection between population and planetary health, and believe that this programme will significantly benefit our local economy, communities, and the environment over the next 30 years.”
This $50 million investment will be used for agroforestry, which includes the production of sustainable timber, fruit and nuts, essential oils, and resins, as well as increasing agricultural productivity through intercropping and developing sustainable market value chains. It complements AstraZeneca’s ongoing $310 million (7 trillion VND) investment into Vietnam from 2020 to 2030 to reduce the burden of diseases, strengthen the health system, uplift the domestic biopharmaceutical R&D and manufacturing capabilities, and develop local talent.
