The wood processing industry is to become a spearhead economic sector by 2025, posting export turnover of about 20 billion USD to contribute to socio-economic development and stabilise the livelihoods of people living in forested areas.

Deputy Minister of Agriculture and Rural Development aims to improve the quality of forests, promote value, and also focus on investing in forests protection. 

Apart from the global exports, it is also necessary to explore domestic market with the value of around 3 billion USD.

With the high potential and expectation on the forestry and woodworking industry, the Vietnam Administration of Forestry (VAF) has invested about 50 trillion VND for developing the forestry sector in the 2016-2020 period.

Said by  Bui Chinh Nghia, deputy general director of VAF, forest coverage increased to 41.89 percent in 2019 from 40.84 percent in 2015 and is expected to hit 42 percent this year.

The value of forestry production increased by an average of 5.73 percent annually in the 2016-2020 period. The export value of wood and wooden products rose to 11.3 billion USD in 2019 from 7.1 billion USD in 2015, and is estimated to reach over 12 billion USD this year.

Original from VietnamPlus