At the Conference on implementing Decree 27/2021/ND-CP on the management of forestry plant, decision no 523/QD-TTg approved the Vietnam forestry development strategy for the period of 2021 - 2030, with a vision to 2050, the project "Plant 1 billion trees in the period of 2021 - 2025" on the afternoon of April 23, 2021.
Most significantly, according to the Prime Minister's authorized growth phase of Vietnam's forestry policy for the period 2021- 2030, the export value of wooden furniture and forest products would reach US$18-20 billion by 2025, and US$23-25 billion by 2030. By 2025, the domestic consumer market must exceed $5 billion, and by 2030, it must reach $6 billion.
Along with that, Vietnam will continue to close its natural forests until 2030, not exploiting timber from natural forests, but encouraging the planting of large timber forests to supply input materials for the processing industry.
According to Mr. Tran Quang Bao - Deputy General Director of the General Department of Forestry, it is necessary to promote the formation of large enterprises, modern manufacturing and processing industrial parks of regional and international stature to participate in the supply chain. At the same time, develop modern commercial forms, along with building Vietnamese wood brands which only use legal timber sources and expanding the market to ensure stable and sustainable development.
Besides, additional revenue sources from forestry services, forest environment services, etc. will be developed, such as ecotourism, carbon sequestration services for example.
Speaking at the conference, Deputy Minister of Agriculture and Rural Development Ha Cong Tuan said that by "planting 1 billion trees in the period of 2021 - 2025", we have increased the national forest cover rate from 38% in 2006 to 41.89% in 2019 and is expected to reach 42% in 2020 with a total forest cover of over 14.6 million ha.
In addition, the export turnover of wood and wood products from 2.8 billion USD/year in the period 2006 - 2010 to 13 billion USD in 2020.
According to the online newspaper VietnamNet.