Workers at a wood processing firm in Vietnam (Photo: VNA) Hanoi (VNA) – Amidan array of difficulties caused by the COVID-19 pandemic, the wood industry isexerting every effort to maintain business and production, while implementinginitiatives and defining strategic lines of products and markets.
A survey of 124 woodprocessing enterprises on the impacts of the disease found that the sector’sexport turnover and growth are likely to drop sharply in the near future.
Up to 76 percent ofenterprises said that the sector is likely to suffer total initial losses of 3.06trillion VND (131 million USD), while the remaining said they have not yetdetermined the level of losses.
Only 7 percent of therespondents said they are maintaining operations as normal. Meanwhile, 51percent reported that they had scaled down production, and 35 percent said theywill have to suspend operations in the coming time.
According to Chairman of theVietnam Timber and Forest Product Association (VIFORES) Do Xuan Lap, while mostwood firms had to narrow their production scale, some are still maintainingproduction thanks to stable lines of products in key markets.
To Xuan Phuc, an expert fromForest Trends, commented that although the pandemic will end, but the operationof the wood industry cannot go back to normal.
The sector should change theidentification of strategic lines of products and markets to ensure sustainabledevelopment as well as promote links among businesses and develop the supportingindustry, he suggested.
Vietnam's export value ofwood and wooden products reached 2.7 billion USD in the first quarter of 2020,representing a year-on-year increase of over 16 percent, according to theMinistry of Agriculture and Rural Development./.
VNA
