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May 27, 2019

Vietnam: Investments in production capacity needed for boosting wood products exports

Vietnam: Investments in production capacity needed for boosting wood products exports

Vietnam's wood and forestry product export turnover reached over US$9.3 billion in 2018, accounting for more than 23 per cent of the agricultural sector's export value. Vietnamese enterprises have exported furniture directly to more than 120 countries and territories worldwide, topping Southeast Asia, ranking second in Asia and fifth in the world’s furniture market. It can be affirmed that the Vietnamese wood industry, after a specific period of development, has built a strong foundation for their production capacity and technological innovation, helping to gradually improve the corporate governance and earn them prestige in the international market.

Up to now, there are about 4,500 wood processing enterprises across the country, of which 95 percent are private. Strongly applied science and technology have become an important development resource in the wood processing industry, generating new products with new designs, meeting the increasingly selective demand, especially for products requiring high quality and fine art values.

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