Hanoi (VNA) – This year’sforestry exports are estimated at over 16.9 billion USD, up 6.1% from 2021,according to the Vietnam Administration of Forestry.
The value includes about 15.85billion USD worth of timber and wood products, rising 7%, and 1.1 billion USDworth of non-timber products, falling 1.3%.
Meanwhile, timber and wood productimports increased 4.1% to 2.82 billion USD.
That resulted in a trade surplus of14.1 billion USD, up 6.5% from last year, statistics show.
Despite market fluctuations due toimpacts of the Russia - Ukraine conflict and the COVID-19 pandemic, forestry exportshave still been on the rise thanks to the Government’s directions, ministriesand sectors’ moves, and businesses’ efforts to surmount difficulties, DeputyGeneral Director Bui Chinh Nghia told the administration’s conference in Hanoion December 30.
The US, Japan, China, the EU, and theRepublic of Korea were the main markets, purchasing 15.48 billion USD worth offorestry products from Vietnam, equivalent to over 90% of the total.
For 2023, the sector targets 17.5billion USD worth of forestry exports, a growth rate of 5 - 5.5% in forestryproduction value, and forest coverage maintained at 42%, Nghia noted./.
Due to the ongoing conflict in Ukraine, and many European countries turning their backs on the supply of gas from Russia, the export potential of wood, and especially wood pellets, is on an upward trend.
A forum took place in the southern province of Binh Duong on October 28 to discuss the promotion of legal and sustainable timber value chains in Vietnam.
Vietnamese exporters of wood and wooden furniture expect to bring home 16.5 billion USD this year, fueled by an increase in the overseas shipment of woodchips and wood pellets in the first 10 months of this year.
The agro-forestry-fishery export turnover in 2022 posted a new record, hitting over 53.2 billion USD in 2022, a year-on-year increase of 9.3%, according to the Ministry of Agriculture and Rural Development (MARD).
Aiming to be one of the world’s leading processing centres of export timber, Vietnam is striving to establish legal timber, where raw materials are legally sourced and traded throughout the entire value chain.
China’s Laoling city, in coordination with VINEXAD, hosted a series of events in Ho Chi Minh City from August 7-9 to seek trade and economic cooperation with Vietnam.
Vietnamese Ambassador to Cambodia Nguyen Minh Vu led a delegation to Mondulkiri, Ratanakiri, and Kratie provinces from August 5-8, aiming to deepen economic ties and support Vietnamese businesses operating in Cambodia’s northeastern region.
Party General Secretary To Lam’s upcoming state visit to the Republic of Korea (RoK) is expected to mark a new milestone in the bilateral relationship, creating fresh momentum for trade and investment cooperation between the two countries.
In the context of the growing global digital economy, digital transformation and the promotion of e-commerce are key drivers helping Vietnam boost integration, enhance competitiveness, and expand export markets, according to the Vietnam E-commerce and Digital Economy Agency
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In the first seven months of the year, Phu Tho attracted an impressive 651.7 million USD in foreign direct investment, including 35 newly licensed projects totaling 119 million USD in registered capital and 45 existing projects with an additional capital of 533 million USD.
Under the agreements, VinEnergo will invest in, install, and operate 43 MWp of rooftop solar power capacity and 45 MWh of BESS capacity across the three plants.
Under a draft to amend and supplement the Government's Decree 125/2020/ND-CP on administrative sanctions for violations of tax and invoice regulations, the Ministry of Finance has proposed classifying the failure to issue invoices into five different levels. Infraction levels will correspond to fines of 1 million VND to 80 million VND, depending on the nature and number of invoicing violations.
A new airline developed and invested by Sun Group — has officially announced a strategic partnership with Amadeus IT Group (Amadeus), one of the world’s leading travel technology companies. This agreement not only lays the foundation for a modern digital infrastructure but also marks a pivotal step in SPA’s global expansion strategy, enabling the airline to access international distribution networks and reach customers worldwide.
Of the total, 107,700 were new firms, with combined registered capital of 928.4 trillion VND (35.4 billion USD), up 10.6% in number and 5.5% in capital compared with the same period last year.
Experts agree that a combination of technology, enforcement, education and cross-border cooperation is essential to protect copyrighted content in Vietnam’s growing digital ecosystem.
Poland is Vietnam’s largest export market in Central and Eastern Europe, with key staples including seafood, textiles, footwear, coffee, and cashew nuts.
Cashless payments are growing at an impressive rate, averaging 30–40% annually. Vietnam’s per capita cashless transaction volume now trails only China, with total value of 295.2 quadrillion VND (11.26 trillion USD), or 26 times of its GDP.
A draft resolution on piloting a digital asset and cryptocurrency market is being developed, aiming to create a broad-enough regulatory sandbox that enables investor participation and provides practical grounds for policy refinement in areas such as risk management and anti-money laundering.
A wood factory in Vietnam (Photo: VNA) 
