Under the plan, wood exports expected to reach $20 bln by 2025

Vietnam targets to maintain national forest coverage between 42-43%.

Vietnam targets to increase the export value of wood and wood products to $20 billion by 2025 and $25 billion by 2030 under the national forestry planning for 2021-20230 period, with a vision to 2050.

The planning was approved under Prime Ministerial Decision No. 895/QD-TTg, signed on August 24 by then Deputy Prime Minister Tran Luu Quang.

Under the plan, Vietnam aims to have over 15.8 million ha of forests and forestry land by 2030. This includes 15.5% allocated for special use forests, 33% for protective forests, and 51.5% for production forests. The goal is to maintain national forest coverage between 42-43% while significantly enhancing the quality of existing natural forests.

Specific targets include an annual forestry production growth rate of 5-5.5%, planting an average of 238,000 ha of production forests each year, and restoring 22,500 ha of natural forests annually.

Over 1 million ha of forests are expected to be certified for sustainable management by 2030, according to the plan.

Revenue from forest environmental services is anticipated to grow by 5% annually, with total annual earnings estimated at VND3.5 trillion ($140 million) from 2021-2025, and VND4 trillion ($160 million) from 2026-2030.

It is estimated that these goals will require investment capital of over VND217.3 trillion ($8.68 billion).

Chu Khoi (Source: en.vneconomy.vn)