According to VGP News, a Vietnamese project on sustainable and effective development of wood processing from 2021-2030 has been signed by Vietnam’s Deputy Prime Minister Le Van Thanh.
The goal of this project is to develop the wood processing industry into an important economic sector and turn Vietnam into one of the world’s leading wood producers.
The government aims to an international furniture exhibition center and encourage the establishment of design R&D centres. Additionally, trade promotion activities will be boosted in major markets, such as the US, Japan, South Korea, the EU, China, as well as other potential markets.
According to the project, export turnover of timber and forest products is projected to reach US$20 billion and $25bn by 2025 and 2030 respectively.
Last year, Vietnam’s forestry export value hit $15.87bn, representing a year-on-year rise of 20% and accounting for over 30% of the country’s total agro-forestry-fishery export turnover. But the industry is still expected to face difficulties in 2022 with the complex evolution of the COVID-19 pandemic.
VGP News also reported that 100% of wood and timber products for export and domestic consumption will use legal wood materials with sustainable forestry certification.
Source: VGP News