Vietnam's wood processing industry welcomes development opportunities

In 2011, Vietnam’s profit from exporting wood products was US$3.9 billion, an increase of 15.1% over the same period of the previous year. The United States, the European Union, Japan and China have always been major importers and regions of wood products in Vietnam. More and more foreign companies have moved production bases to Vietnam because of the low labor costs in the country. According to a survey, Vietnam currently spends US$6 per person per day, which is much lower than China’s US$10 and Malaysia’s US$13.

With the global economic recession, although the global consumer demand has been reduced, it provides an opportunity for the development of the timber processing industry in Vietnam.

At a conference in Ho Chi Minh City, Vietnam, the Handicrafts and Timber Industry Association stated that in the next decade, the number of timber dealers and exporters in Vietnam may be among the top ten in the world, and the export trade volume may rise to 150-200 billion U.S. dollars. .

Association Thang believes that in order to achieve this export goal, the timber processing industry in Vietnam needs government bank's simultaneous interest rate policy support, vocational training and adequate log materials. He also stressed the need to establish an industry that supports wood processing.