Forestry products are one of the few products seeing export growth despite COVID-19 threatening economic development in countries around the world.
The US has decided to conduct an investigation on whether Vietnam is dumping plywood products in the US. The decision could lead to a sharp fall in plywood exports to the market.
The warehouse manager at Truong Thanh Furniture near Ho Chi Minh City did her best to avoid the virus. For weeks, she worked and slept at the factory alongside 200 colleagues, with few people allowed in or out.
The ongoing coronavirus outbreaks are now threatening to bring the timber industry to its knees, with businesses and associations hoping for preferential vaccine treatment and financial support for test kits and other pandemic-related expenses.
Suspension of production at local wood processing enterprises due to the COVID-19 pandemic is having effects on exports, according to the Vietnam Timber and Forest Product Association (VIFOREST).
Vietnam exported 9.58 billion USD worth of wood and wood products in the first seven months of this year, a year-on-year increase of 55 percent, according to the General Department of Customs.
Enterprises and associations, at a teleconference with the prime minister on August 8, made multiple proposals to remove their difficulties so as to resume production during the pandemic, stressing the need to accelerate the Covid-19 vaccination for laborers.
The Vietnam Administration of Forestry (VNFOREST) aims to collect 2.8 trillion VND (121.7 million USD) from forest environmental services this year.
The cost of lumber is going through the roof, and that is hitting the housing industry on all fronts. For homebuilders, renovation contractors and DIYers, the cost of projects is now far higher than it was just a year ago and about to cross into historic territory.
Management authorities are stepping up preventive measures to stop trade fraud and tax evasion related to Chinese commodities that illegally carry made-in-Vietnam labels due to escalating U.S.-China trade tensions.