Foreign investment increases in wood processing industry
Foreign direct investment in the wood processing industry has increased rapidly, especially since 2018, the Vietnam Timber and Forest Product Association has said.
The association quoted the Ministry of Planning and Investment's Foreign Investment Agency as saying that in the first nine months of the year foreign investors had registered to invest the same amount as in the whole of 2018.
Low labour costs, easy access to raw materials, favourable infrastructure, and preferential tariffs due to free trade agreements the country has signed are among factors that make the industry attractive to foreign investors, it said.
The US-China trade war could create new opportunities for foreign investment in the industry, it added./.
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