Amid an array of difficulties caused by the COVID-19 pandemic, the wood industry is exerting every effort to maintain business and production, while implementing initiatives and defining strategic lines of products and markets.
Workers at a wood processing firm in Vietnam (Photo: VNA)
Hanoi (VNA) – Amidan array of difficulties caused by the COVID-19 pandemic, the wood industry isexerting every effort to maintain business and production, while implementinginitiatives and defining strategic lines of products and markets.
A survey of 124 woodprocessing enterprises on the impacts of the disease found that the sector’sexport turnover and growth are likely to drop sharply in the near future.
Up to 76 percent ofenterprises said that the sector is likely to suffer total initial losses of 3.06trillion VND (131 million USD), while the remaining said they have not yetdetermined the level of losses.
Only 7 percent of therespondents said they are maintaining operations as normal. Meanwhile, 51percent reported that they had scaled down production, and 35 percent said theywill have to suspend operations in the coming time.
According to Chairman of theVietnam Timber and Forest Product Association (VIFORES) Do Xuan Lap, while mostwood firms had to narrow their production scale, some are still maintainingproduction thanks to stable lines of products in key markets.
To Xuan Phuc, an expert fromForest Trends, commented that although the pandemic will end, but the operationof the wood industry cannot go back to normal.
The sector should change theidentification of strategic lines of products and markets to ensure sustainabledevelopment as well as promote links among businesses and develop the supportingindustry, he suggested.
Vietnam's export value ofwood and wooden products reached 2.7 billion USD in the first quarter of 2020,representing a year-on-year increase of over 16 percent, according to theMinistry of Agriculture and Rural Development./.
Nguyen Phuong, sales director of Minh Thanh Co., Ltd, said his company plans to invest more than 50 billion VND (2.15 million USD) in a production chain for bedroom and living room furniture.
Forestry sector maintained a high growth of over 5 percent this year, with forestry product export reaching 11.3 billion USD, up nearly 20 percent from 2018.
Local wood processing enterprises need to expand supply chains with a focus on seeking suppliers from domestic and overseas markets to ease disruptions from China due to the novel coronavirus SARS-CoV-2 outbreak, experts have said.
Domestic wood processing enterprises are urged to use more online commercial channels to find new markets and customers, especially during the COVID-19 epidemic.
The wood industry is facing a ‘disaster’ with many businesses left without orders from now until 2021 due to the COVID-19 pandemic, said the Vietnam Timber and Forest Product Association (VTFPA).
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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.
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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.
Workers at a wood processing firm in Vietnam (Photo: VNA) 
