Vietnam sets target of $20 billion wood exports by 2025

11-Oct-2018 Intellasia | VOV | 6:00 AM Print This Post

The timber and forestry products processing industry set a target of earning $9 billion from wood exports this year and increasing the value to $25 billion by 2025.

The target was revealed at a launch ceremony of the 16th Hoa Mai (Apricot Blossom) furniture design competition organised by the Handicraft and Wood Industry Association of HCM City (HAWA) on October 8.

The exports of wood and forestry products hit a record high of $8 billion last year. One of the industry’s main targets in its sustainable development process in order to turn Vietnam into a reputable and legal wood production hub in the world is to make the products more competitive through designs, diversify product samples and train young and creative designers.

The Hoa Mai annual competition is one of the most reputable awards of the industry. This year’s event will take place from October 2018 to March 2019. The contest will be held in two rounds: “Design idea” and “Making samples”. The 20 best ideas in the first round will go through to the second round. The jury members will be famous domestic and foreign designers.

HAWA president Nguyen Quoc Khanh said the industry aims to shift from 80 percent of Original Equipment Manufacturer (OEM) manufacturing to 80 percent of Original Design Manufacturer (ODM) manufacturing by 2025. He hopes that the competition will find talented designers to improve the industry’s competitive capacity.

https://english.vov.vn/economy/vietnam-sets-target-of-us20 billion-wood-exports-by-2025-384921.vov

 


Category: Economy, Vietnam

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