Wood and forest products exports exceed $6b

Tuesday, Jul 30, 2019 16:56

All forest environmental service fees are paid via bank accounts. — Photo vneconomy.vn

Viet Nam’s wood and forest products export turnover in the first seven months of 2019 has been estimated at more than US$6 billion, a year-on-year increase of 17 per cent.

Exports of wood and wooden products earned nearly VND5.66 trillion. Viet Nam mainly exported wood and wooden products to major markets including the US, Japan, China and the Republic of Korea.

Nguyen Ton Quyen, vice chairman of the Timber and Forest Product Association of Viet Nam, said wood export enterprises became more and more self-control in material resource. Accordingly, raw materials for domestic wood processing now account for 75 per cent, only 25 per cent of raw materials must be imported.

Growth in exports of wood products continues to be maintained at double digits and can reach $10.5 billion as targeted, according to Quyen.

A report of the Forestry General Department under the Ministry of Agriculture and Rural Development showed as of July 28, the country has 1,342 forest owners entitled to receive forest environmental services fee with disbursed amount of approximately VND2 trillion (US$85.84 million).

Notably, all forest environmental service fees are paid via bank transfer.

The Forestry General Department said the use of electronic payment technology to pay forest environmental services is consistent with common practices.

With this payment method, forest environmental services will come to the recipient quickly, cost-effectively, safely and transparently. — VNS

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