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Recently in Vietnam, a coalition of international NGOs, donors and government officials have been promoting market-based forest conservation projects in the form of payments for environmental services (PES) as a win-win for both conservation and development objectives; Vietnam is now the first country in Southeast Asia with a national law on PES. This article provides a macro survey of how market-based instruments for forest conservation have expanded in Vietnam, particularly in relation to adoi:10.1016/j.geoforum.2011.04.010 fatcat:wpcy7vd2nza3pmccfizs3niepa