Increasing Chinese investment in wood industry concerns Vietnamese businesses.
Việt Nam earned US$4.15 billion from exports of wood and wooden products in the first six months of this year, marking an increase of 8.4 per cent compared with the same period last year.
A report from the Việt Nam Forestry Administration under the Ministry of Agriculture and Rural Development said that the United States, China, Japan and South Korea remained the four largest importers of wood and wooden products from Việt Nam, accounting for 78 per cent of the country’s total export value.
The country also spent nearly $1.1 billion importing wood, up 2 per cent year on year. Imports from the US, German and France rose during the first half of this year, while shipments from Cambodia and Malaysia fell.
Source From: Viet Nam News
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