 Thank you very much, ladies and gentlemen. This is my honor to be here to speak about the payment of forest environment services in Vietnam, shortly called PFAS. On this occasion I would like to talk and to share with you about some items first. How to recognize the importance of PFAS in terms of understanding western racing in this aspect. Second is how to initiate activity related to PFAS in Vietnam for means of what we are doing now. Third, I would like to talk about what are the main achievements and lessons learned, what we are doing until now. Lastly, we would like to talk about what we are facing now, many major challenges in PFAS in Vietnam. As you know, Vietnam has high potential in PFAS, particularly with watershed management and hydro power. We also recognize that Vietnam has become one of the first countries in Asia to initiate the PFAS scheme. And we recognize that the goal of PFAS in Vietnam is to improve the forest quantity and quantity and increase national investment in forest sector and reduce the state financial burden for forest protection and management and improve the social environment. We come up to the film. Which film we are mentioning here and which activity is being paid for environment services. Firstly, hydro power plants pay for services for soil protection and reduction of erosion and sedimentation of reservoir and river. As you know, in Vietnam, number of hydro powers is about 200 hydro power. We are considered as service users, managed about more than 4 million hectares of forest. And secondly, it's clean water production and supply companies supply for service for regulation and maintenance of water sources for clean water production. Thirdly, it's industrial manufacturing factories that use water directly from water sources must buy for services. And lastly, it's eco-tourism company supply for landscaping and biodiversity. And now we have some achievement and lesson learned from implementation of PFAS in Vietnam. I would like to say here that the development of Vietnam had made very strong commitment. Within only 10 years, 10 legal instruments like decree, decision and circular formed the legal basis for PFAS implementation in Vietnam. The operation of PFAS released heavily on forest protection and development funds. Now we have established already about 35 forest protection and development funds in 35 provinces in whole country. And PFAS creates about 100 million U.S. dollar and pays for about 300,000 households who are managing and protecting around 4 million hectares of forest. PFAS implementation has resulted in a stronger capacity for government agency and public for the role of forest protection and development. Besides about achievement and good lesson learned, now we are facing some major challenges. The awareness in enforcing PFAS contract will identify as shortage of human resources and staff capacity in local government department. And we are looking at the unauthority of enforcing compliance. PFAS payment and opportunity costs are still an important question. You know, the street to PFAS scheme is high opportunity cost of converting forests to other land use. The transition cost of PFAS might be high because the forest owners are individual households and local community mainly living in remote area where are very limited in capacity of public services. The monitoring and evaluation system, PFAS definitely needed but are not available now. However, finally I would like to emphasize if Vietnam PFAS has a new initiative for forestry sector and it creates innovative financing mechanism for forestry development. Thank you very much.