Friday, September 30, 2022 5:49:22 PM - Markets open
VN-INDEX 1,132.11 +6.04/+0.54%
HNX-INDEX 250.25 +0.84/+0.34%
UPCOM-INDEX 84.96 -0.26/-0.31%
VN targets $20 billion in timber exports by 2025
Vietnam News - 3/23/2022 2:57:02 PM
 (0 ratings. You must sign in to rate.)
 Việt Nam is targeting US$20 billion in total timber exports by 2025, an increase of more than $9 billion compared to now.
 
The goal is to develop a sustainable and efficient wood processing industry for 2021-2030, approved by Deputy Prime Minister Lê Văn Thành on March 10.
 
The total export value of timber and forest products is targeted at $25 billion by 2030.
 
The value of timber and wood products for domestic consumption will reach $5 billion in 2025 and over $6 billion in 2030.
 
According to the project, more than 80 per cent of wood processing and preservation establishments will have advanced production technology, and all timber and wood products for export and domestic consumption will be made from the legal raw material of timber.
 
By 2030, the domestic wood processing industry will become an important economic sector and build and develop a reputable brand for Vietnamese wood products in domestic and export markets.
 
Việt Nam strives to become one of the leading countries in the world's production, processing, and export of timber and wood products.
 
Another task of the project is to develop infrastructure and expand the production scale. Specifically, the industry will form five forestry zones with high technology applications to attract investment from wood processing enterprises and enterprises producing auxiliary materials.
 
Việt Nam will build an international furniture exhibition centre and encourage the development of research centres to design wood products per the needs of consumers.
 
Another task is to develop products with added value, high and stable demand and competitive advantages in the market. The prioritised production includes furniture, outdoor furniture, and artificial wood plank products.
 
The US, Japan, the Republic of Korea, the EU, and China are identified as main markets for Vietnamese wood products, while wood processing firms are encouraged to use the “Gỗ Việt” (Vietnamese wood) trademark and capitalise on e-commerce and other technological applications.
 
The forestry sector will innovate to achieve those goals, focusing on training high-qualified human resources to access modern technologies and create breakthroughs in research, selection, breeding and production, biotechnology and application of high technologies.
 
At the same time, it will reorganise the concentrated production areas in association with forest product processing zones and commercial services to reduce transportation costs and increase the value of wood products.
 
The sector will also strengthen research and forecast activities and market information capacity. It will enhance foreign direct investment and actively participate in the global supply chain of forestry products. —VNS
 
Read original article here
 
Newer News
28/09 PM calls for faster disbursement of public funds
28/09 Wood processing sector eyes digital transformation despite hurdles
28/09 Việt Nam retains positive economic outlook in short-term: World Bank
28/09 Dim outlook for domestic auto component industry
23/09 Total fishery output reaches 6.75 million tonnes in nine months
17/09 Bright outlook for economy despite challenges
14/09 UKFTA promotes quality FDI flow to VN
13/09 Indices struggle on rising selling force
13/09 Economists petrol stabilisation fund to be scrapped
09/09 IMF optimistic about Việt Nam's economic growth
Older News
23/03 VN firms need to better seize incentives in the CPTPP
21/03 Reopening of tourism this month offers hope to businesses
18/03 Transport costs rise as fuel prices surge
11/03 Petrol prices up nearly 3,000 VND per litre
09/03 Experts raise concerns about imported inflation risk
09/03 PM calls on Vietnamese, US businesses to further beef up partnerships
04/03 Japanese investors said hopeful about Vietnam’s growth
02/03 Businesses in quandary over increase in fuel price
28/02 Big room for shrimp industry to increase exports: VASEP
28/02 CPI up 1.68 percent in first two months of 2022
 
Newsletter Signup
Top Stories
Việt Nam retains positive economic outlook in short-term: World Bank
Reference exchange rate up 13 VND on Sept 14
Việt Nam one of world's best performing stock markets in August
Securities companies’ race heats up amid low market liquidity
GEG: Japanese firm buys 35.1 per cent stake in Việt Nam’s power company
Market Update
Last updated at 3:05:04 PM
VN-INDEX 1,132.11 +6.04/+0.54%
Real-time chart
Top 5 Actives
Top 5 Gainers
Top 5 Losers
My Favorite Quotes
Your most recently viewed tickers will automatically show up here if you type a ticker in the Get Quotes box on the top of the page.
Company Research
Type in the symbol above for thorough background information, key statistics and financial information.
Stock Sectors
We continuously improve our services, here are the latest updates...
Portfolio
Allow you to monitor a customised group of securities. You can set up multiple Portfolios to help you better manage your investments.
Trigger Alerts
Get up-to-date alerts delivered directly to your email address.
Stock Screener
Allow you to filter the market and find exactly what sort of company you are looking for.
Live Terminal
Get instant access to FREE REAL-TIME streaming quotes for hundreds of stocks from HOSE, HNX and UPCOM exchanges.