Despite the pandemic Vietnam earned US$13.17 billion from wood exports in 2020

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Nguyen Quoc Khanh, President of the Handicraft and Wood Industry Association (HAWA), recently suggested that Vietnam should develop a generation of young entrepreneurs in the timber industry and consider it a sector for startups. Khanh said the sector has achieved the five-year target set by the Prime Minister in 2018 two years in advance. Despite the COVID-19 pandemic Vietnam earned US$13.17 billion from wood exports in 2020 up 16.4% year-on-year. He stressed that the timber industry was the only industry in Vietnam that achieved double-digit growth over the past 18 years.

According to Khanh, about 1 million laborers are working in the sector and the number is predicted to stand at around 2-3 million by 2045. Khanh expressed his belief that the sector can maintain the strong growth and its present position in world markets in the next decades if it continues to engage in environmental protection, steps up afforestation and ensures markets. Khanh also suggested an emphasis on technology and digital transformation will aid adding value to forest products.

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