Vietnam adopts bold plan to enhance wood & wood product export value

Posted on September 9, 2024   |  

Vietnam plans to boost wood and wood product exports to $20 billion by 2025 and $25 billion by 2030 under its new national forestry strategy.

By 2030, Vietnam aims to manage over 15.8 million hectares (39 million acres) of forest, with 15.5% for special use, 33% for protection, and 51.5% for production.

The strategy targets maintaining forest coverage between 42–43% while improving the quality of natural forests.

The plan includes a 5–5.5% annual growth in forestry production, planting 238,000 hectares (588,000 acres) of production forests each year, and restoring 22,500 hectares (56,000 acres) of natural forests annually.

Vietnam also aims to have over 1 million hectares (2.5 million acres) of forests certified for sustainable management by 2030.

Revenue from forest environmental services is expected to grow by 5% each year, with earnings projected at VND3.5 trillion ($140 million) for 2021–25 and VND4 trillion ($160 million) for 2026–30.

Achieving these goals will require more than VND217.3 trillion ($8.68 billion) in investment.