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Wood processing expected to become key economic sector

VGP – Wood processing is expected to become a key economic sector and one of Viet Nam’s primary export products within the next decade.

March 30, 2019 3:48 PM GMT+7

This is the overall goal rolled out in the Prime Minister’s recent Directive on measures for fast and sustainable development of timber processing industry.

The Government sets the targets to increase revenues of timber and non-timber exports to US$11 billion in 2019, US$12-13 billion by 2020 and US$18-20 billion by 2025, according to the Directive.

To achieve the above targets, the Government chief asked for effective deployment of the Forestry Law passed in 2017, with a focus on simplifying administrative procedures to facilitate timber production.

The Government will continue preferential credit and land policies and encourage stronger partnership among timber processing companies in order to foster the companies’ capacity and value chain.

The Government also tasked provincial authorities to strengthen forestry management to ensure maximum benefit of forest exploitation.

In last August, PM Nguyen Xuan Phuc and Deputy PM Trinh Dinh Dung chaired a conference to discuss ways to expand timber and forestry processing and export in Ho Chi Minh City.

At the conference, PM Phuc challenged the Ministry of Agriculture and Rural Development to turn Viet Nam into one of the leading countries in export of timber and forest products with a credible global brand name.

Phuc hailed the sector’s recent achievements, saying they greatly contributed to improve living standards of famers and the country’s growth as well.

The industry’s exports grew at 13% annually for the past ten years to US$8 billion in 2017, or more than a fifth of agricultural exports and surpassing a target set only for 2020, according to official statistics./.

By Thuy Dung