Connecting with FDI firms helps boost wood exports: insiders
Strengthening linkages and cooperation between foreign-invested and domestic enterprises will contribute to promoting the sustainable development of the Vietnamese wood industry, according to insiders.
Hanoi (VNA) - Strengthening linkages and cooperation betweenforeign-invested and domestic enterprises will contribute to promoting thesustainable development of the Vietnamese wood industry, according to insiders.
Statistics from the Vietnam Timber andForest Product Association (VIFOREST) show that in 2023, the number of FDIenterprises exporting wood and wood products accounted for only 18.8% of thetotal number of wood exporters in the country, but their export turnover hit6.24 billion USD, equivalent to 47.4 % of the total of thisindustry.
Last year, the sector attracted 57 new FDIprojects worth around 300 million USD, of which Chinese-invested projectsaccounted for 49.1% of the total number of projects and 35.5% of the totalvalue.
Cao Thi Cam, an expert from the VIFOREST,said that an increase in activities of FDI enterprises, including export, ispartly a result of new-generation free trade agreements that Vietnam isparticipating in, and partly thanks to the advantage of geographical location andthe development of the country's wood industry ecosystem.
To Xuan Phuc, a policy analyst at ForestTrends Organisation, stated that the superiority of FDI enterprises operatingin the wood industry needs to be summed up and used as a foundation to create aspill-over effect to domestic firms.
According to Phuc, the connection betweenFDI and domestic enterprises remains limited at present. Therefore, the governmentand wood associations need to promote the formation of a suitable institutionaland policy environment to encourage the establishment of linkages and the sharingof benefits and responsibilities of the business community./.
Wood, furniture, and handicrafts businesses should fully tap e-commerce channels to reach more customers, and increase sales and revenue, said insiders at a workshop in Ho Chi Minh City on March 8.
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Workers at Woodmax Co. Ltd. (Photo: nhandan.vn) 
