Forestry production expected to grow 5-5.5 percent annually in next five years
News Type: Marketing News
Deputy Prime Minister Trinh Dinh Dung has marked the 2021-2030 period with a vision to 2050 determined that forests are a resource and a significant production material.
Export revenue from forestry products is expected to reach 18-20 billion USD in 2025 and 23-25 billion USD in 2030.
In the 2011-2019 period, the sector paid nearly 2 trillion VND in forestry environmental service fees. The forest area has been expanded over the years and coverage is likely to reach 42 percent in 2020. With the revenue forecast on the forestry products, vietnam government has devoted on the forestry replantation and reservation in order to expand their global export.
Vietnam has become the fifth-largest forestry product exporter in the world, the second in Asia, and the largest in Southeast Asia. Vietnamese wooden furniture is now found in more than 120 countries and territories worldwide.
Minister of Agriculture and Rural Development Nguyen Xuan Cuong added that the sector should improve the quality of planted forest area by 20 percent by 2025 and 40 percent by 2030, while ensuring material sources of 40 million cu.m in 2025 and 50 million cu.m in 2030.