Willingness To Pay For Forest Protection In Vietnam, Case Study In Thai Nguyen City

International Journal of Economics and Management Studies

© 2021 by SSRG - IJEMS Journal

Volume 8 Issue 6

Year of Publication : 2021

Authors : Thi Thanh Ha Nguyen

10.14445/23939125/IJEMS-V8I6P111

How to Cite?

Thi Thanh Ha Nguyen, "Willingness To Pay For Forest Protection In Vietnam, Case Study In Thai Nguyen City," SSRG International Journal of Economics and Management Studies, vol. 8,  no. 6, pp. 68-77, 2021. Crossref, https://doi.org/10.14445/23939125/IJEMS-V8I6P111

Abstract:

This study uses the contingent valuation method to evaluate the cost of natural forest protection and identify public perception regarding sustainable forest management in Vietnam. The study aims to determine the level of willingness to pay (WTP) for the protected forests and the factors that influence the willingness to protect forests in a case study in Thai Nguyen province, northern Vietnam. The results show that the residents are well aware of the importance of forests to their communities and perceive that the protection of natural forests is an efficient way to improve the quality of the environment. They are willing to pay VND 39,000 (US$ 1.7) per household as a one-time payment, which would raise a total fund of about VND 3.5 billion (US$ 154,000) for natural forests protection at a district scale. The WTP is influenced by the level of payment, the public awareness of benefits provided by forests to communities, previous visits to the forest, and household income. The study proved that WTP can be used as a proxy to identify economic incentives for local farmers to restore forest land and understand the underlying factors that influence the willingness to protect forest.

Keywords:

Contingent valuation method, forest protection, sustainable forest management, WTP

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