Vietnam sets the target of export turnover of wood sector to reach US$ 20 billion

Deputy Prime Minister Le Van Thanh has just signed Decision 327/QD-TTg on March 10, 2022 approving the scheme on developing a sustainable and effective wood processing industry in the 2021 - 2030 period.

The scheme sets a common goal that by 2030, the wood processing industry will become an important economic sector; building and developing a reputable Vietnamese wood product brand in the domestic and international markets; striving for Vietnam to be in the group of leading countries in the world in terms of production, processing and export of wood and wood products.

The specific objective of the scheme is that the export value of wood and forest products will reach US$ 20 billion by 2025 and US$ 25 billion by 2030. In which, the export turnover of wood and wood products will reach over US$ 18.5 billion in 2025 and over US$ 20.4 billion in 2030. The value of wood and wood products for domestic consumption will reach US$ 5 billion in 2025 and over US$ 6 billion in 2030.

In order to achieve the above objectives, the scheme sets out development requirements for the wood processing industry that over 80% of wood processing and preservation establishments have advanced production technology capabilities; 100% of wood and wood products for export and domestic consumption are used from legal wood materials, certified for sustainable forest management.

An important task that the schemet sets out is to develop infrastructure and expand the production scale for the wood industry. Accordingly, 5 forestry zones with high technology application are formed, attracting investment from wood processing enterprises and enterprises producing auxiliary materials.

Other tasks are developing and expanding wood processing industrial zones in localities with development potentials and advantages; attracting investment selectively, giving priority to projects producing products with high added value, advanced technology, using materials that save energy and being environmentally friendly; Investing in the development of supporting industries; giving priority to the development of auxiliary materials, such as producing wood glue, coatings, and environmentally friendly surface decoration; prioritizeing the development of logistics services; building a national furniture exhibition center; encouraging the development of centers for research and design of wood products in accordance with the demand, culture of consumers.

Regarding export wood products, there will have to focus on developing groups of wood products with competitive advantages, added value, high and stable demand in the market.

In which, priority is given to the development of production and processing of the following main product groups: Group of furniture products (tables and chairs, beds, cabinets, kitchen cabinets, dressing tables, bookshelves; assorted flooring); group of outdoor furniture products (swing chairs, slides, tables and chairs, benches, umbrellas); group of artificial wood products (joint board; plywood, chipboard; MDF board); group of wood products combined with other materials to increase aesthetics, durability, save wood (rattan, bamboo; plastic, metal, fabric, leather); group of wooden handicraft products (tables and chairs, beds, wardrobes; lacquer products, wooden paintings, all kinds of wooden statues; souvenir products, decorative arts and crafts combined with rattan, bamboo, other materials) ); group of products of wood pellets, wood chips.

Regarding the market, there will be continuing to maintain and expand export market share, actively promote the trade of wood and wood products in the main markets including the US, Japan, Korea, EU, China and expand the new markets that have many potentials and advantages; effectively implement Free Trade Agreements (FTAs) between Vietnam and countries around the world.

Others tasks are building and developing the "Vietnamese Wood" brand, encouraging wood processing enterprises to use the "Vietnamese Wood" brand, contributing to improving the competitiveness and reputation of Vietnam's wood products in the domestic and international markets; promoting the development of e-commerce, building a database, implementing digital transformation in production, sale, business administration activities and applying information technology to sell products online or through e-commerce platforms.