To reach the target, the wood industry will focus on raising the competitiveness of enterprises by reducing the use of imported wood, applying science and technology in improving labor productivity, and stepping up digital transformation to cut production costs.
In fact, in the fourth quarter of 2022, the number of orders decreased, and the gloomy atmosphere may linger on until the end of the first quarter of 2023. However, most of businesses believe that the situation may begin brightening from the second quarter.
Pellets and woodchips are hoped to be a motivation for the development of the sector this year.
According to the Vietnam Timber & Forest Products Association, Vietnam earned over 700 million USD from exporting nearly 4.7 million tons of pellets last year, up 35% in volume and 81% in value year-on-year,
Currently, Vietnam is the world’s second biggest exporter of wood pellets, and the export value of this product is predicted to surpass 1 billion USD this year./.
