Vietnam's wood industry aims to generate USD 15.5-16 billion in export revenue this year, driven by a nearly 21% growth to USD 13.18 billion in the first 10 months. The US remains the top importer, holding over 50% of the market share, followed by China and Japan. Exports to Spain, among the top 15 markets, have surged by over 63%.
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Do Xuan Lap, Chairman of the Vietnam Timber and Forest Product Association, underlined the importance of enhancing competitiveness through five key areas: production technology, low-emission manufacturing, management, trade promotion, and internal monitoring. Tran Quang Bao, Director of the Department of Forestry, stressed the need for improved trade promotion, including fairs and exhibitions.
To ensure a stable supply of quality raw materials, the Ministry of Agriculture and Rural Development will continue promoting policies for sustainable forest management and cooperation in forest plantation production. A pilot programme is underway to issue codes for material growing areas in Bac Giang, Lang Son, Phu Tho, Tuyen Quang, and Yen Bai. This initiative will expand to guarantee a steady supply of legally sourced timber meeting international standards, including the EU's Deforestation Regulation (EUTR).
Source: www.vietnamplus.vn