Collaboration to promote sustainable coconut production

According to the Vietnam Coconut Association, Vietnam ranks fourth in the Asia-Pacific region in terms of the total export value of coconuts and coconut-based products. General Department of Customs' statistics show that coconut exports reached over $ 900 million in 2023.

Coconut trees are generating income for around 390,000 Vietnamese farming households. Besides their direct economic value, coconut trees also make a significant contribution to climate change mitigation, when each ha of coconut trees can sequester 70 - 75 tons of CO2 annually.

In the context of Vietnam's commitment to achieving net zero greenhouse gas emissions by 2050, the economic value of coconut trees will continue to increase through the sale of carbon credits.

According to Ms Dang Huynh Uc My, Chairwoman of Ben Tre Import-Export Joint Stock Company, there is still considerable market potential for the coconut industry as market demand for coconut products is growing with many untapped values from coconut trees remaining.

"With coconut trees now recognized as a key industrial crop, we expect the coconut industry to receive more attention and support from many sides to develop sustainably and seize new opportunities", said the Chairwoman of Betrimex.

On April 12, United Overseas Bank (UOB Vietnam) signed a green trade finance facility agreement with Ben Tre Import-Export Joint Stock Company (Betrimex).

This credit facility will assist Betrimex in importing or purchasing raw materials and domestic goods to produce products certified as Organic, including Fairtrade certification. This certification ensures that the company meets strict requirements for social, environmental, and economic responsibilities. Specifically, these criteria include safe working conditions, environmental protection, sustainable livelihoods, and community development funds.