Export of timber and forest products projected to reach US$25 bln by 2030

Deputy Prime Minister Le Van Thanh has signed a decision approving a project on sustainable and effective development of wood processing in the 2021-2030 period.

The overall goal of the project is to develop wood processing into an important economic sector and turn Viet Nam into one of the world's leading wood producers.

Export turnover of timber and forest products is projected to reach US$20 billion and US$25 billion by 2025 and 2030, respectively, according to the project.

100% of wood and timber products for export and domestic consumption will use legal wood materials with sustainable forestry certification.

The Government targets to build an international furniture exhibition center and encourage the establishment of design research and development centers.

Trade promotion activities will be boosted in major markets namely the U.S., Japan, the Republic of Korea, the European Union, China, as well as other potential markets.

Last year, Viet Nam's forestry export value hit US$ 15.87 billion, representing a year-on-year rise of 20 percent and accounting for over 30 percent of the country's total agro-forestry-fishery export turnover.

The sector is expected to face more difficulties in 2022 due to the complex evolution of the COVID-19 pandemic./.