Business

Binh Duong’s wood exports up slightly in first half

Wood and wooden product exports in the southern province of Binh Duong hit more than 1.7 billion USD in the first half of 2020, up 0.6 percent year-on-year and accounting for 14.5 percent of the local total export value of 11.9 billion USD.
Binh Duong’s wood exports up slightly in first half ảnh 1Illustrative image (Photo: VNA)

Binh Duong (VNA) - Wood and wooden product exportsin the southern province of Binh Duong hit more than 1.7 billion USD in thefirst half of 2020, up 0.6 percent year-on-year and accounting for 14.5 percentof the local total export value of 11.9 billion USD.

Local companies producing wooden products are expected to benefit from the opportunitiesthe EU-Vietnam Free Trade Agreement (EVFTA) offers and have targeted growth inthe remaining months of the year.

According to the Binh Duong Furniture Association (BIFA), many companies had to limit production because of theCOVID-19 pandemic and have seen a decline in new export orders.

BIFA Chairman Dien Quang Hiep said Binh Duong is home to 1,600 furniture enterprises,or 40 percent of those found nationwide.

Amid the difficulties caused by the pandemic, local businesses are making everyeffort to seek domestic raw material resources to replace imports, whilepromoting sales via e-commerce platforms.  

Hiep added that nearly 50 percent of total export orders held by localbusinesses are reported to have been placed through e-commerce platforms.

The country’s exports of wood and wooden products in the first four months of 2020were worth nearly 3.2 billion USD, a year-on-year increase of 6 percent,according to the General Department of Customs.

Thanks to its efficient pandemic control, Vietnam has become an attractiveinvestment destination for many wood processing companies, with turnover inbillions of dollars.

The country expects wood processing exports to top 12.5 billion USD this year,up 10 percent against last year, according to the Vietnam Timber and ForestProduct Association (VIFORES)./.
VNA
#Wood and wooden product export #Binh Duong #export value #EVFTA #COVID-19 #e-commerce platform #Vietnamplus #Vietnam news #Vietnam News Agency Binh Duong
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