Vietnam expects to earn 25 billion USD from the export of wood and wooden products by 2030. (Photo: VNA)
Hanoi (VNA) – Vietnam expects to earn 25billion USD from the export of wood and wooden products by 2030.
The export turnover would set a record high of 18billion USD by 2023, with wood pellets and woodchips forecast to enter theone-billion USD club.
President of the Vietnam Timber & ForestProducts Association (Viforest) Do Xuan Lap said that the figure will representa growth rate of 7-9%.
To that end, the industry will focus on raising thecompetitiveness of enterprises by reducing the use of imported wood, applyingscientific and technological advances in improving labour productivity, and stepping updigital transformation to cut production costs.
Illustrative image (Source: VNA)
The export of wood and forestry products was valuedat 16.92 billion USD last year, surpassing the set target by 3.8%, and up 6.1%year-on-year.
To boost the export, the Ministry of Agriculture andRural Development will propose the Prime Minister and the Government approve relevantpolicies, such as the national forestry planning scheme for 2021-2030 with avision towards 2050.
Importers, especially those from major markets likethe US and Europe, have intensified their technical barriers and product origintracing, the ministry said, suggesting businesses satisfy requirements ofpartners to optimise advantages generated by free trade agreements in order toachieve the above-said targets./.
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.
Global political and economic fluctuations in 2022 have affected import and export activities, especially those of enterprises operating in the wood manufacturing and processing industry, making them calculate each step in the year-end period to achieve the set targets.
The export turnover of wood and wood products is expected to set a record high of 18 billion USD in 2023, with wood pellets and woodchips forecast to enter the one-billion USD club.
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Vietnam expects to earn 25 billion USD from the export of wood and wooden products by 2030. (Photo: VNA) 
Illustrative image (Source: VNA) 
