According to VNFOREST, over the first three months of 2021, ten new wood product plants were opened by foreign investors from six countries with a total invested capital of US$112.51 million. China continued topping number of new foreign direct investment projects in Vietnam’s wood industry sector.
Out of the ten new projects, eight were for production of beds, cupboards and seats.
Investors from China accounted for half of the new projects at US$13.86 million, followed by Hong Kong (one project for pallet production), Singapore (one project for wood/plastic flooring production), Belize (one project on indoor/outdoor furniture), South Korea (one project on plantation establishment) and the British Virgin Islands (one project on production of dining tables, seats, beds and cupboards).
In addition, in the first three months of 2021, there were two foreign investors that increased invested capital. One was from China, which expanded their composite flooring production capacity, and the other was from Hong Kong which upscaled its kitchen and vanity production factory.
Source: ITTO Tropical Timber Market Report