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This project of reforestation (hereinafter referred to as “the Project”) involves planting, on a long-term perspective, the Paulownia tree – a fast-growing, sustainable hard-wood species that requires minimal management and little investment, on a designated area of 1,500 hectares, commencing with an initial 400-hectare part as Phase 1. The site is located at Chu Rcam Commune, Krong Pa District, in the east of Gia Lai Province. This is a the very first project of such tremendous magnitude in Vietnam that has been issued the Certificate of Land Use Right. The Project is expected to generate revenues from sales of carbon credits on the international carbon market from the second year of plantation onwards and sales of timber at different points in time thereafter. As soon as the initial 400 hectares proves to be successful, authorities shall assign an additional area of 1,000 hectares and up to 10,000 hectares to the company for expandability.