Wood exports post marked growth amid virus outbreak
The fallout of the coronavirus outbreak has been felt in many sectors, but not the timber industry as its export revenue in the first two months of 2020 reached 1.5 billion USD, up 10.1 percent year-on-year.
Hanoi (VNA) – The fallout of the coronavirus outbreak has been felt in manysectors, but not the timber industry as its export revenue in the first twomonths of 2020 reached 1.5 billion USD, up 10.1 percent year-on-year.
Virusfears have forced many national and international exhibitions relating to theindustry to be postponed, including the Vietnam International Furniture andHome Accessories Fair (VIFA Expo 2020), initially scheduled to open on March11.
Onthe other side, the US’s imposition of anti-dumping duties on China’s woodenfurniture has prompted many companies to move away.
Inaddition, major firms in the US, Australia, Japan and Europe have begun to turnto Southeast Asia since COVID-19 has disrupted wood production in China, causinga crisis in global supply.
Giventhis, with its available production resources, Vietnam, which ranks second inAsia and fifth globally in wood exports, has become the most promisingalternative in this regard.
Accordingto Dien Quang Hiep, Chairman of the Binh Duong Furniture Association,new-generation free trade agreements (FTAs) to which Vietnam is a signatorylike the Comprehensive and Progressive Agreement for Trans-Pacific Partnership(CPTPP) and the EU-Vietnam Free Trade Agreement (EVFTA) are expected to give aboost to the industry thanks to tax incentives.
“Thedomestic industry needs to optimise these opportunities,” he suggested.
Awareof benefits brought about by digital transformation, the Handicraft and WoodIndustry Association of Ho Chi Minh City (HAWA) will join hands with Ecomstone– a partner of the world’s leading e-commerce player Amazon in Vietnam, tobuild a shared store on the platform in order to build a brand name forVietnam’s wooden furniture.
NguyenChanh Phuong, HAWA Vice Chairman, said to reach the target of 20 billion USD inexport revenue in 2025, it is necessary for the industry to diversify saleschannels and raise product value.
TruongGia Binh, FPT Chairman, suggested domestic firms apply digital technology inproduction and business so they are not left behind by their foreign rivals./.
Vietnam and the EU have agreed that Vietnam's Timber Legality Assurance System will be applied for wood and wood products exported to the EU, and also to other countries and in the domestic market.
Vietnam and the European Union (EU) have basically concluded the Voluntary Partnership Agreement on Forest Law Enforcement, Governance and Trade (VPA/FLEGT) after nearly six years of negotiations.
Vietnam’s exports of wood and wooden products in the first quarter of this year hit 1.78 billion USD, a year-on-year increase of 17.1 percent, the General Department of Vietnam Customs reported.
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.
Illustrative image (Source: VNA) 
