Wood and wood product exports to the UK, as well as other major export markets, are expected to recover this year after a significant , industry experts have predicted.
Vice director of Viet Nam Administration of Forestry Bui Chinh Nghia told the online newspaper of Government chinhphu.vn about the impressive growth of Viet Nam’s timber and wooden product sector, particularly amid the COVID-19 pandemic.
Having received an order worth US$920,000 to export kitchen products and household appliances to South Korea soon after the Lunar New Year, Đức Thành Wood Processing Joint Stock Company is optimistic about its export revenues and profits this year.
Export opportunities for furniture and wood products to the US will increase this year as many Americans continue to work at home amid the COVID-19 crisis.
Wood industry business groups nation-wide have signed a commitment to promote the development of the industry in a “sustainable and responsible” manner.
Exports of wood and wood products in the first four months of the year were worth nearly US$3.2 billion, a year-on-year increase of 6 per cent, according to the General Department of Customs.
Despite the difficulties caused by the COVID-19 pandemic, Binh Duong Province managed to expand exports by 3.6 per cent in the first quarter of the year to US$5.8 billion.
Viet Nam’s export value of wood and wood products reached US$1.53 billion in the first two months of this year, marking a year-on-year increase of 10.1 per cent.
The group is striving for more than VND5.78 trillion ($250 million) in post-tax profit, up 13 per cent year-on-year, contributing some VND3 trillion to the State budget.