Timber and wood products generated about 9.64 billion USD in export revenue between January and November, up 19.5 percent year on year, statistics show.
A wood processing factory in Phuoc Hoa Industrial Park in Phu Giao district, Binh Duong province (Photo: VNA)
Hanoi (VNA) – Timber and wood products generatedabout 9.64 billion USD in export revenue between January and November, up 19.5percent year on year, statistics show.
That includes 1.08 billion USD of overseasshipments in November, according to the Ministry of Agriculture and RuralDevelopment.
The ministry said from January to October,timber and wood product shipments to the US, one of the four largest importersof these items from Vietnam, grew strongly from the same period of 2018, by34.5 percent to 4.2 billion USD, thanks to the capitalisation of free tradeagreements.
Meanwhile, the Vietnam Timber and Forest ProductAssociation (VIFORES) reported foreign investment in wood processing has risensharply since 2018 through new projects, capital added to existing projects andpurchase of shares in domestic firms.
In the first nine months of 2019, the industryattracted 67 new projects worth over 581 million USD, 2.3 times higher than thetotal registered capital last year. China took the lead among the foreigninvestors in wood processing with 40 projects.
However, VIFORES also admitted numerouschallenges facing the sector, including difficulties in controlling projects’quality, the small scale and outdated technology in some projects, and risks oftrade and origin frauds to take advantage of lower tariffs on Vietnameseproducts to export to the US./.
Vietnam’s Eastwood Energy JSC and Sweden’s CellMark Group signed a long-term contract in Ho Chi Minh City on August 8 to supply wood pellets to the Japanese market.
Vietnamese wood processing firms need to rethink their production models and embrace technologies to increase their competitiveness amid current and future challenges, delegates said at a seminar held in Ho Chi Minh City on September 10.
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.
Vietnam’s export turnover of wood and forestry products is forecast to hit 11 billion USD in 2019, according to an official from the Vietnam Administration of Forestry (VAF).
Foreign direct investment in the wood processing industry has increased rapidly, especially since 2018, the Vietnam Timber and Forest Product Association has said.
The new Government decree also simplifies loan procedures while expanding credit incentives to include organic and circular agriculture, allowing them to access preferential terms similar to those of high-tech and value-chain based agricultural production.
Developed with state-of-the-art infrastructure, the Da Nang FTZ is designed to become a leading regional economic centre and a strategic growth pole in Vietnam’s new development landscape.
The Binh Duong Association of Supporting Industries (BASI) is expected to promote the usage of domestically manufactured components while supporting businesses in accessing international markets, strengthening linkages, and promoting deeper integration into global supply chains.
PwC Vietnam forecasts a vibrant M&A market in Vietnam’s healthcare sector in 2025, driven by rising demand for high-quality medical services and a growing middle class. Pharmaceutical companies, private hospitals, and specialised medical facilities, particularly in ophthalmology and oncology, are predicted to be key targets for M&A.
The central province of Quang Nam is set to become a hub for the medicinal plant industry, with Ngoc Linh ginseng designated as the core crop, under the Prime Minister's decision issued earlier this year.
The North-South Expressway project is scheduled for completion by 2030, aiming to establish the groundwork for Vietnam’s modern railway industry and stimulate regional economic development, positioning the country for a significant economic leap in the era of national rise.
The probe, initiated on June 11 following a petition by the US Coalition for Fair Trade in Hardwood Plywood, targets products classified under HS Code 4412 and 9403 imported from China, Indonesia and Vietnam.
Sun PhuQuoc Airways was born as a perfect piece in Sun Group’s strategic vision to build a premium ecosystem of tourism, entertainment, real estate, and aviation. With a pioneering ambition, Sun PhuQuoc Airways is not just an airline, but a symbol of connection – bringing the world to Phu Quoc and taking Phu Quoc to the world.
A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
A wood processing factory in Phuoc Hoa Industrial Park in Phu Giao district, Binh Duong province (Photo: VNA) 
