Vietnam raked in more than 1 billion USD from wood and wood product exports in October, up 22.7 percent year-on-year, according to the General Department of Vietnam Customs.
Businesses based in Ho Chi Minh City recorded a year-on-year increase of 7.8% in their export revenue this year to reach US$38.32 billion, according to the municipal Department of Industry and Trade.
Ninety five Vietnamese and foreign companies are showcasing their products at the ninth Vietnam Furniture and Furnishing Fair (VIFA Home) that opened in HCM City on November 16.
Wood processing and export businesses of Vietnam hold many opportunities to expand market and increase export value in the time ahead, experts said at a workshop in Ho Chi Minh City on March 7.
Sweden’s wood materials industry sees Vietnam’s wood processing industry as a potential market for its eco-friendly, competitive and sustainable materials, speakers at a seminar said.
The export of wood and wood products is expected to fetch US$8 billion this year, up from US$7.3 billion last year.
Interior and exterior decor, furniture and handicraft products are being showcased at the 2016 Vietnam furniture & home furnishing fair (VIFA HOME) that opened in HCM City on November 24.
Local firms are worried that the tax spotlight could be turned on them.
Difficulties facing the wood industry and measures to promote sustainable wood import and export in Vietnam were tabled during a policy dialogue in Ho Chi Minh City on March 29.
