Vietnam plans to increase revenue from timber exports

Vietnam plans to increase revenue from timber exports

That would be an increase of seven to nine percent compared to last year, when the industry’s foreign sales exceeded $ 16.9 billion, according to the forest service.

To achieve the set goal, the sector will continue to focus on improving enterprise competitiveness through the application of various solutions, said Association of Wood and Forestry Products President Do Xuan Lap.

Among these measures, the manager mentioned promoting the use of forest timber planted in the country, reducing timber imports and applying scientific and technological advances to increase labor productivity.

In addition, he stressed, there is a need to promote digital transformation to reduce production costs and achieve low emissions, coordinate with municipalities in the construction of concentrated processing industrial parks, promote trade promotion activities, and organize large international ones Measure.

The association will actively coordinate with the Ministry of Agriculture and Rural Development to plan the sector’s balanced development and promote promotional activities, Xuan Lap added in statements broadcast by the VNA news agency.

According to statistics from this portfolio, Vietnam’s forest exports topped $16.9 billion last year, up 6.1 percent from 2021, while imports of the item increased comparatively by 4.1 percent to $2.82 billion.

The United States, Japan, China, the European Union and South Korea were the main markets for Vietnamese timber products, with purchases totaling $15.48 billion, accounting for more than 90 percent of the total.