Connecting with FDI firms helps boost wood exports: insiders
Workers at Woodmax Co. Ltd. (Photo: nhandan.vn)
Strengthening linkages and cooperation between foreign-invested and domestic enterprises will contribute to promoting the sustainable development of the Vietnamese wood industry, according to insiders.
Statistics from the Vietnam Timber and Forest Product Association (VIFOREST) show that in 2023, the number of FDI enterprises exporting wood and wood products accounted for only 18.8% of the total number of wood exporters in the country, but their export turnover hit 6.24 billion USD, equivalent to 47.4 % of the total of this industry.
Last year, the sector attracted 57 new FDI projects worth around 300 million USD, of which Chinese-invested projects accounted for 49.1% of the total number of projects and 35.5% of the total value.
Cao Thi Cam, an expert from the VIFOREST, said that an increase in activities of FDI enterprises, including export, is partly a result of new-generation free trade agreements that Vietnam is participating in, and partly thanks to the advantage of geographical location and the development of the country's wood industry ecosystem.
To Xuan Phuc, a policy analyst at Forest Trends Organisation, stated that the superiority of FDI enterprises operating in the wood industry needs to be summed up and used as a foundation to create a spill-over effect to domestic firms.
According to Phuc, the connection between FDI and domestic enterprises remains limited at present. Therefore, the government and wood associations need to promote the formation of a suitable institutional and policy environment to encourage the establishment of linkages and the sharing of benefits and responsibilities of the business community./.
Related News
Latest News
Enterprises want clearer regulations on seafood production
14:05 | 26/04/2024 Import-Export
Vietnam ranks fifth among aquatic product suppliers for Singapore
13:53 | 26/04/2024 Import-Export
Forum seeks to increase PPP investment effectiveness
13:48 | 25/04/2024 Import-Export
Linking businesses with cooperatives to increase the value chain
09:42 | 25/04/2024 Import-Export
More News
Vietnam has a trade deficit of over US$17 billion with China
15:34 | 24/04/2024 Import-Export
Tra fish export to UAE jumps 67% in Q1
13:46 | 24/04/2024 Import-Export
Pepper prices continue increase trend
13:44 | 24/04/2024 Import-Export
More efforts needed to maintain export growth to China: Insiders
13:55 | 23/04/2024 Import-Export
It is expected that there are higher orders and revenue in the second quarter from European businesses
09:31 | 23/04/2024 Import-Export
Vietnamese rice prices on the hike
15:08 | 22/04/2024 Import-Export
FDI flow into garment and textile sector bounces back
15:06 | 22/04/2024 Import-Export
Investors play a key role in developing the industrial park system
10:38 | 22/04/2024 Headlines
Find ways to a corporation for businesses in industrial parks
10:38 | 22/04/2024 Import-Export
Your care
Enterprises want clearer regulations on seafood production
14:05 | 26/04/2024 Import-Export
Vietnam ranks fifth among aquatic product suppliers for Singapore
13:53 | 26/04/2024 Import-Export
Forum seeks to increase PPP investment effectiveness
13:48 | 25/04/2024 Import-Export
Linking businesses with cooperatives to increase the value chain
09:42 | 25/04/2024 Import-Export
Vietnam has a trade deficit of over US$17 billion with China
15:34 | 24/04/2024 Import-Export