After storm Yagi, the forestry sector of Quang Ninh province suffered heavy damage with nearly 120,000 hectares (out of a total of 434,000 hectares of forest and forestry land), with an estimated total damage of nearly 6,000 billion VND.
Tens of thousands of people, especially households that have just escaped poverty, are at risk of falling back into poverty due to the loss of income from forests.
To quickly restore the economy, Quang Ninh province is researching, consulting with experts and calling on experienced investors to participate in forest reconstruction and restoration. The top priority is to develop crops with high economic value and resistance to natural disasters.
Recently, the People's Committee of Quang Ninh province had a meeting with the Korean YNC Company (specializing in manufacturing automation equipment in the fields of logistics, semiconductor industry, display and battery) to discuss investment opportunities in the fields of forestry and environmental technology.
YNC Company wishes to implement many projects, including a 40MW biomass energy plant with a total investment of 65 million USD and a factory producing EID greenhouse gas emission reduction equipment for vehicles, with a capacity of 10 million devices/year, with a total expected investment of 80 million USD.
At the meeting, the business also proposed planting biomass bamboo to replace low-value forestry trees. According to the growth cycle, bamboo trees continuously regenerate, do not need to be replanted, and have been exploited for 17 consecutive years. In the first 2 years, people can intercrop with other crops to get short-term income to support long-term income, and can harvest bamboo shoots for commercial sale. From the 3rd year onwards, each year the revenue from bamboo shoots and commercial bamboo is at least about 100 million VND/ha/year, while acacia trees, after deducting expenses, only earn 50-60 million/ha in 5 years.
Bamboo biomass has the ability to absorb 4 times more CO2 and improve air quality. The tree's strong root system helps to hold soil, prevent landslides and regenerate quickly after natural disasters. According to experts, now is a favorable time to develop bamboo biomass, with economic value many times higher than that of acacia.
