Vietnam’s exports of wood and wooden products are expected to rake in 18.5 billion USD in 2025 and 20.4 billion USD in 2030, per a project freshly approved by Deputy Prime Minister Le Van Thanh on March 10.
Producing wooden furniture for export to the US market at Trieu Phu Loc Company in Binh Duong province. (Photo: VNA)
Hanoi (VNA) – Vietnam’s exports of wood and wooden products are expected to rake in 18.5 billion USD in 2025 and 20.4 billion USD in 2030, per a project freshly approved by Deputy Prime Minister Le Van Thanh on March 10.
The 2021-2030 project on the wood processing industry’s sustainable development aims to turn the sector into a key economic one and promote the trademark of Vietnamese wood products domestically and internationally.
Accordingly, the value of wood and wooden products for export is set at 20 billion USD in 2025 and 25 billion USD in 2030 while that for domestic consumption 5 billion USD and 6 billion USD, respectively. All wood and wooden products for export and domestic consumption are expected to source from legal wood materials with sustainable forest management certification.
Toward these targets, a key task of the project is to develop infrastructure and expand production scale. As such, it will work to form five high-tech forestry areas, attracting investment from wood processors and auxiliary materials producers. It also eyes the building of a national furniture exhibition center and encourages the establishment of centers for research and design of wood products catering to consumers’ demand.
Another task is to develop groups of products with competitive advantages, value added, and high and stable demand in the market. Those prioritised for production include furniture, outdoor furniture, and artificial wood plank products, among others.
The US, Japan, the Republic of Korea, the EU, and China are identified as main markets for Vietnamese wood products, while wood processing firms are encouraged to use the “Go Viet” (Vietnamese wood) trademark and capitalise on e-commerce and other technological applications./.
Despite two official scenarios predicting wood and wooden products exports to rake in less than 14.5 billion USD this year due to the COVID-19 pandemic, the country's export revenue is now estimated at 14.72 billion USD.
Export revenue of wood and furniture generated frrom the US market is predicted to reach 10 billion USD in 2022 thanks to the development trend from 2021.
Vietnamese wood and furniture products are expected to grow in 2022 due to the purchasing demand of the international market along with meeting necessary factors in Free Trade Agreements (FTAs).
Promoting domestic production of wood materials plays an important role in minimising instabilities related to wood imports for processing in the future, said insiders.
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Producing wooden furniture for export to the US market at Trieu Phu Loc Company in Binh Duong province. (Photo: VNA) 
