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Wood, forestry product exports expected to reach US$20 billion by 2025

By Van Ly

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HANOI – Vietnam expects to export wood and forestry products worth US$20 billion in 2025, including over US$18.5 billion worth of wood and wooden products.

The figures are expected to reach US$25 billion and US$20.4 billion, respectively, by 2030, according to a plan on the sustainable and effective development of the wood processing sector in the 2021-2030 period signed by Deputy Prime Minister Le Van Thanh on March 10.

Specifically, the sector is expected to become an important economic sector by 2030. The country looks to establish prestigious Vietnamese wood brands in local and international markets and become a leading producer, processor and exporter of wood and wooden products.

The sector also set a target to earn US$5 billion from the sales of wooden products in the domestic market by 2025 and over US$6 billion by 2030.

In addition, more than 80% of wood processors were expected to employ advanced technology, and all wood and wooden products consumed locally and exported to other markets will use legal materials.

One of the missions under the plan is to develop infrastructure and expand the production scale. Specifically, five hi-tech forestry areas will be established to attract investment from wood processors and enterprises producing auxiliary materials.

Wood processing industrial parks and clusters in potential provinces will also be developed, while only investment projects producing high value-added products, applying advanced technologies and economically using energy and material will be selected.

Vietnam will also develop supporting industries, eco-friendly materials and logistics services.

A world-class wood exhibition center is expected to be developed, while centers designing wooden products matching the demand and favor of consumers should be encouraged.

Other missions of the sector include developing competitive wooden products with high added values; maintaining and expanding the export markets, such as the United States, Japan, South Korea, the European Union and China; and effectively deploying free trade agreements between Vietnam and other countries.

Under the plan, local wood enterprises should also apply information technology to sell their products on ecommerce platforms and apply digital transformation in production, business and governance.

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