January 23, 2025 | 15:56 GMT +7

  • Click to copy
Wednesday- 13:11, 31/03/2021

FDI enterprises account for more than 50% of wood export value

(VAN)- Wood and wood products exports in 2020 reached a record of more than US$ 12 billion, of which, FDI enterprises accounted for more than 50%.
FDI enterprises account for more than 50% of the wood and wood products exports value.  Photo: TL.

FDI enterprises account for more than 50% of the wood and wood products exports value.  Photo: TL.

According to the Association of Vietnam Timber and Forest Products, in 2020, there were 653 FDI enterprises in the wood industry participating in exporting, accounting for 18% of the total number of exporting enterprises.  The export turnover of FDI enterprises reached over US$ 6 billion, equivalent to 51% of the total export turnover of the industry.

Meanwhile, domestic enterprises accounted for 82% of the wood exporting enterprises, but the export turnover only accounted for 49% of the total export turnover.

In terms of turnover growth in wood exports, FDI enterprises had a growth rate of over 20% compared to 2019, while it was only a half among domestic enterprises.

In 2020, the wood industry received 63 FDI projects with a total registered capital of US$ 372.7 million.  In the same year, the number of projects to raise capital was 52 times (capital increased by US$ 193.6 million) and the number of capital contribution to shares purchase reached 122 times (US$ 244.8 million).  In general, FDI investment in the industry decreased compared to 2019, mainly due to Covid-19.

FDI projects in the wood industry in the last year were small-scale, about US$ 6 million/project. China was on top the list in terms of the number of projects (23) however these projects were in very small scale, equivalent to one third of the average capital of an FDI project.

Author: Son Trang

Translated by Meagan Phan

Plant genetics discovery could revolutionize fertilizer use in farming

Plant genetics discovery could revolutionize fertilizer use in farming

(VAN) Discover how a genetic mutation in plants enhances partnerships with soil microbes, reducing fertilizer use and boosting sustainable farming practices.

Sustainable management of over 4.000 hectares of degraded forest in 3 biosphere reserves

Sustainable management of over 4.000 hectares of degraded forest in 3 biosphere reserves

(VAN) This is the result after 5 years of implementing the project, which was carried out by the Ministry of Natural Resources and Environment in collaboration with the United Nations Development Programme (UNDP).

EU–Vietnam Cooperation: Advancing agriculture for sustainable development

EU–Vietnam Cooperation: Advancing agriculture for sustainable development

(VAN) The DeSIRA Connect workshop created opportunities for collaboration, emphasizing the integration of indigenous knowledge with scientific advancements to inform policy-making toward more efficient agricultural systems.

‘The labor shortage will only get worse:’ Trump deportation plans could hit Pa. agriculture hard

‘The labor shortage will only get worse:’ Trump deportation plans could hit Pa. agriculture hard

(VAN) Trump’s mass deportation pledge could disrupt Pennsylvania’s agricultural economy as the status of 30,000 farm workers comes under question.

The future of sustainable marine aquaculture in Vietnam and Norway

The future of sustainable marine aquaculture in Vietnam and Norway

(VAN) Marine spatial planning, enhanced forecasting capabilities, and the provision of marine insurance are key focus areas in aquaculture cooperation between Vietnam and Norway.

One quarter of freshwater fauna threatened with extinction

One quarter of freshwater fauna threatened with extinction

(VAN) The largest global assessment of freshwater animals on the IUCN Red List of Threatened Species reveals that 24% of the world’s freshwater fish are at high risk of extinction.

Shifting toward premium agricultural trade between Vietnam and the U.S.: Insights from the USDA

Shifting toward premium agricultural trade between Vietnam and the U.S.: Insights from the USDA

(VAN) The quality of agricultural products is not only key to winning the trust of international consumers but also crucial to attracting investments in food processing and production technology.

Read more