The Vietnam Timber and Forest Product Association (VIFORES) has set a target for exports of US$17.5–18 billion in 2022, in spite of challenges.
VIFORES pointed out that the five main export groups of the wood industry have good growth prospects in 2022. “In 2022, the goal of the export wood industry will reach $17.5–18bn. To achieve the goal of exporting the wood industry in 2022, the main group is still commodity groups, in which wooden chair will reach $4.1bn, wooden furniture will reach $10bn, and a number of other key commodity groups,” said the chairman of VIFORES.
According to Vietnam’s Ministry of Agriculture and Rural Development, in order to achieve the new export target in the face of rising raw material prices and increasing logistics costs, domestic planted forests need to improve productivity and quality to participate in the supply chain.
“The government issued Resolution 84 to implement a sustainable forestry development programme. This is the most important thing for the industry. If input is not much, it must be sourced domestically. Assessment of forest quality is important,” emphasised the Deputy Minister of Agriculture and Rural Development.
In addition, the wood industry is planning to solve the problem of transportation costs by increasing the value of each container according to packaging specifications and brands. Efforts to reduce the risk of origin evasion and strictly implement the Legal Timber Trade Agreement between Vietnam and the US should also be prioritised to promote export growth.