Wood industry facing losses due to COVID-19
Friday, April 3,2020AsemconnectVietnam - The wood industry is facing a ‘disaster’ with many businesses left without orders from now until 2021 due to the COVID-19 pandemic, said the Vietnam Timber and Forest Product Association (VTFPA).
The wood industry is facing a ‘disaster’ with many businesses left without orders from now until 2021 due to the COVID-19 pandemic, said the Vietnam Timber and Forest Product Association (VTFPA).
VTFPA said that the US, EU, Japan, the Republic of Korea and China accounted for over 90 percent of the country’s wood export market, and have all been strongly affected by COVID-19.
“Many Vietnamese wood processing enterprises have had orders cancelled of suspended,” said the association.
Since March, 80 percent of exporters to the US and EU markets have received cancellations or delays until the situation improves. Orders from Japan, the RoK and China also dropped 60-80 percent.
“For the remaining orders and small orders, businesses are also having difficulties as input prices have gone up by 10-20 USD per cu.m, and freight costs have increased 500-1,000 USD per container,” the statement said.
Do Xuan Lap, chairman of VTFPA, said the wood processing industry, one of the country's three main export industries, is facing the reality that most enterprises would have to stop production this month and lay off workers without strong support from the Government.
In order to minimise these losses, VTFPA have asked the Government to include the wood processing industry on the list of products the Government says can extend tax payments and land rents.
VTFPA also said the Government should consider value added tax refunds for eligible exporters, and the exemption of export taxes./.
Sourc:VNA
Raw cashew nut imports from Cambodia skyrocketed
Vietnam’s trade with top 11 Asian markets is set to grow significantly
Trade recovers strongly since reopening
Reference exchange rate down 2 VND on March 17
DAILY: Vietnamese pepper prices rose by 500 VND on March 17
DAILY: Vietnamese coffee prices increased by 500 VND on March 17
Vietnam posts 78.9% growth in coffee export value to Spain
9 export items with positive growth in first 2 months of 2023
Seafood exports in February and first 2 months of 2023
Vietnam’s regulatory interest rates to be reduced by 0.5-1 percent
Consumer rights protection online a focus amid e-commerce boom
Opportunities for Vietnamese goods in foreign supermarkets
Reference exchange rate up 3 VND
Rice exports reached more than 893,000 tonnes in 2 months
Plan on implementing Decision No. 327/QD-TTG dated March ...
Concretize viewpoints, objectives, tasks and solutions of the plan in accordance with practical conditions of the locality, associating ...Plan on implementing national environmental protection ...
Implementation plan of marine aquaculture development ...
Program on conservation and development of Vietnamese ...
Plan on improving quality of human resources to 2025 and ...
Efforts taken to turn culinary culture into national ...
The Vietnam Cuisine Culture Association (VCCA) is taking steps to implement a project to build and develop Vietnamese culinary culture ...Vietnamese cuisine making a name for itself with ...
Vietnam advance to next round of AFC U20 Women’s Asian Cup
Cultural tourism and traditional values promoted through ...