Vietnam's wood industry and its potential to Finland
Vietnam has been one of the fastest growing economies in the world in the last ten years. On wood and forest products, Vietnam has become a leading export country. At the international scale, Vietnam has become the 5th biggest wooden furniture exporter in the world ranking, the 2nd in Asia and the 1st in Southeast Asia. The development of wood industry is one of the Vietnamese government priorities and has been very successful in expanding export in term of value and markets. However, the wood industry is largely based on low costs and labour intensive manufacturing. Vietnam is aware of this problem in the long run and the country has recently focused on new technologies and innovation. Its goal is to increase efficiency and productivities. The corona pandemic has highlighted the need to modernize the production system.
Please see the attachment Vietnam's wood industry and its potential to Finland for more detail.