China leads FDI inflow in Vietnamese wood industry
VOV.VN - China tops the list of 14 countries who made investments into the Vietnamese wood industry, with a total of 23 projects throughout 2020.
According to information released in a recent report, direct foreign investment (FDI) increases in the local wood processing industry showed a sharp increase last year, with over US$327.7 million being put into 63 new FDI projects in the industry nationwide.
Furthermore, 52 projects registered to increase additional capital of US$193 million, while 122 others registered for capital contribution and share purchase, with a total value of US$244.8 million.
Out of a total of 63 newly-registered projects last year, China topped the list of the 14 foreign investors in the Vietnamese wood industry with 23 projects. Despite this, the amount of investment capital remained modest, with only approximately US$2.27 million being poured into each FDI project, a year-on-year drop of 37%.
According to a report compiled by Forest Trends, and several local timber and forestry product associations, although the number of FDI enterprises operating in the wood industry only accounted for 18%, their exports made up 51% of the country's overall wood export turnover last year.
