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VIETNAM Gets Into Processing in International Wood Market
¡¾2002.06.24¡¿

VIETNAM GETS INTO PROCESSING

VIETNAM is becoming a significant exporter of processed wood, Hardwoodmarkets.com reports. Formerly a producer of raw timber, the country is importing logs and sawn lumber and supplying finished products to the international market. Finished exports grew to around US$290 million in 2000, slipping slightly in 2001 to around $270 million due to the global economic downturn. Vietnam has 1,200 wood processing and manufacturing companies with a combined capacity of about 2 million cubic metre of wood. Garden furniture manufacturers are concentrated more in Binh Dinh, Da Nang and Central Highlands, while indoor furniture makers and wooden interior decoration industries are located mainly in Ho Chi Minh City, Hanoi, Binh Duong and Dong Nai. Besides local firms, Vietnam is host to 60 foreign enterprises ranging from joint ventures to fully foreign-owned operations. There is also a large state sector: the Ministry of Agriculture and Rural Development operates around 50 state-owned enterprises in the wood-processing sector. Turnover of Vietnam's wood furniture industry is forecast to grow by 10% annually.