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Wood and wooden product exports projected to rake in 25 billion USD by 2030

Vietnam expects to earn 25 billion USD from the export of wood and wooden products by 2030.
Wood and wooden product exports projected to rake in 25 billion USD by 2030 ảnh 1Vietnam 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.
Wood and wooden product exports projected to rake in 25 billion USD by 2030 ảnh 2Illustrative 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./.
VNA
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