HCMC – Vietnam has tightened regulations on wood imports to align with international commitments on sustainable forest management and enhance the global competitiveness of its wood products, reported the local media.
The Government issued Decree 120/2024/ND-CP on September 30, amending Decree 102/2020/ND-CP, which regulates Vietnam’s timber legality assurance system. The new decree introduces detailed procedures for wood imports and exports, including criteria for issuing Forest Law Enforcement, Governance, and Trade (FLEGT) licenses, a certification required for legal timber exports.
The updated decree aims to strengthen the legal framework to meet international standards and promote sustainable forest management. It classifies countries based on the risk level of their timber, focusing on geographic origin and wood species to better manage import risks.
Vietnam relies heavily on imported wood for processing and re-export. In the first half of 2024, the country imported US$1.32 billion worth of wood and wood products, an increase of nearly 28% year-on-year. The largest suppliers were China, the U.S., Laos, Cameroon, and Thailand, accounting for over 67% of total imports.
Vietnam’s wood exports reached US$10.24 billion in the first eight months of 2024, up 21% compared to the same period in 2023, according to the General Department of Vietnam Customs. The HCMC Handicraft and Wood Industry Association (HAWA) forecast that exports could reach up to US$15 billion by the end of the year.
