Production at Minh Quân Trading Co Ltd in Bình Định Province. —Photo congthuong.vn

BÌNH ĐỊNH — The Trade and Industry Promotion Centre of Bình Định Province is investing VNĐ3 billion in a project to promote sustainable development within the local wood processing industry.

This project is for a group of four businesses in Bình Định, including Phương Nghi General Co, Ltd which produces furniture.

Also included, An Sinh Forestry Products Exploitation and Processing Co, Ltd which produces composite wood for factories manufacturing interior and exterior products, Minh Quân Trading Co, Ltd which also makes wooden furniture and Hoài Sơn Wood JSC which makes wood chips pellets.

The project aims to support the rural area in wood production, introducing modern machinery and equipment in production, reducing production time and costs and increasing production capacity, quality and competitiveness in both the domestic and export markets.

According to a representative of the provincial Department of Industry and Trade, the group project will help the provincial wood processing industry to increase added value of products and contribute to the sustainable economic and social development.

At the same time, it creates favourable conditions for organisations and individuals of all economic sectors in sustainable development of industrial and handicraft production, contributing to accelerating transformation of economic structure towards gradually increasing the proportion of industry and services.

According to the Bình Định Statistical Office, in the first five months of 2024, the province's export of timber and wood products reached US$215.9 million, up 22.5 per cent over the same period of last year.

Interior and exterior wooden products exported to the US market stood at $110.7 million, up 6.3 per cent on year.

According to Lê Minh Thiên, chairman of Bình Định Wood and Forest Products Association, the provincial wood industry in the first five months had growing exports thanks to increased demand for importing wood chips and pellets to China and Japan.

Thiên said the wood industry's businesses in Bình Định have not only improved product quality but also created better production chains in order to meet the higher standards of demanding markets in the world, helping to enhance the Bình Định wooden furniture brand.

Đỗ Xuân Lập, chairman of Việt Nam Wood and Forest Products Association, said Bình Định's wood processing enterprises have researched and produced products according to consumers' demand in the context of tightening spending. Many newly launched products are both affordable and convenient for consumers.

This year the market is expected to be warmer and businesses will try to increase orders and develop new markets.

However, the Bình Định wood industry is still worried about its dependence on imported raw wood. Therefore, it is also looking at developing large timber forests associated with sustainable forest management under FSC certificate and carbon certificates. By 2030, the area of ​​large timber plantations in this province will reach more than 50,000 hectares.

Bình Định now has a large number of wood processing factories, concentrated in Phú Tài and Long Mỹ Industrial Parks with around 245 businesses. — VNS