The surge in the number of new FDI projects into Vietnam’s wood processing sector continues. Most of the investment is in woodchip production, processing industry services, wooden pallet production and composite panel products.
Xuan Phuc,(Forest Trends) has reported that most of the incoming investment is from China. In the first 5 months of 2019 there was a total investment of over US$50 million from China, 1.7 times the amount in the same period in 2018.
Tran Quoc Khanh, Deputy Minister, in the Ministry of Industry and Trade has called for a registration system so the ministry can track investment and exports in critical sectors such as panel products as there is a need to effectively manage the export supply chain. This he said would aid Customs in eliminating fake labelling and prevent fraud.