18.5 billion USD goal set for wood export in 2025

Producing wooden furniture for export to the US market at Trieu Phu Loc Company in Binh Duong province. (Photo: 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./.