The Vietnamese wood processing industry has recently seen a recovery in production after the fourth outbreak of Covid-19.<\/p>\n
To support economic recovery, the Vietnamese National Assembly and Government have issued many policies to help enterprises and businesses resume production and business activities.<\/p>\n
These policies have included a delay on tax payments, reducing corporate income tax; dropping loan interest rates and financial support for employees. These actions have created a favourable business environment for enterprises of wood production, processing and export.<\/p>\n
The government\u2019s highly-anticipated Resolution No 128, on the adoption of provisional guidelines on safe and flexible living with COVID-19, has supported the domestic economy in recovery.<\/p>\n
The Vietnamese wood processing industry has built specific strategies and plans to restore production and business in the new normal, according to the Ministry of Agriculture and Rural Development.<\/p>\n
The Covid-19 outbreak has affected the trading of goods, including timber and wooden products. It also hit wood processing centres such as HCM City, B\u00ecnh D\u01b0\u01a1ng, \u0110\u1ed3ng Nai and T\u00e2y Ninh, affecting the wood processing industry\u2019s development.<\/p>\n
Now, the pandemic is gradually being controlled, wood processing and export centres are recovering production. Enterprises processing and exporting wooden products have stabilised production faster than expected, especially enterprises applying the 'three on-site' model with on-site production, on-site dining, on-site rest.<\/p>\n
Nguy\u1ec5n Ch\u00e1nh Ph\u01b0\u01a1ng, Vice Chairman of the Handicraft and Wood Industry Association of HCM City (HAWA), said 80 per cent of HAWA member enterprises have restored manufacturing and can deliver goods as scheduled.<\/p>\n
T\u00f4 Xu\u00e2n Ph\u00fac, an expert from Forest Trend, said that according to a recent survey, only 8.3 per cent of wooden product processing enterprises stopped operations due to the Covid-19. The rest of them had applied different forms to maintain operations; 24 per cent applied the 'three on-site' model.<\/p>\n
About 46 per cent of enterprises said they would not change their targeted revenue for this year, while 37 per cent expected their revenue to increase. The maintaining enterprises predicted their revenue will decrease.<\/p>\n
The VIFORES has two growth scenarios for the rest of the year. In the first scenario, if the industry\u2019s export value of timber and wooden products recovers in the fourth quarter, the total export value in 2021 will reach US$13.6 billion.<\/p>\n
In the second, worse, scenario, if the value continues to decline through the fourth quarter, export value will be $12.7 billion for the whole year.<\/p>\n
Doanh said the ministry will support enterprises in maintaining traditional export markets but will also expand export markets for wooden products.<\/p>\n
According to the General Department of Customs, the export of timber and wooden products in the first ten months of this year reached $12.1 billion, up 23.4 per cent year on year. Major export markets of those products included the US, China and Japan.<\/p>","protected":false},"excerpt":{"rendered":"
The Vietnamese wood processing industry has recently seen a recovery in production after the fourth outbreak of Covid-19. To support economic recovery, the Vietnamese National Assembly and Government have issued many policies to help enterprises and businesses resume production and … Continue reading