Vietnam’s timber processing industry needs a US$6.97bn cash injection by 2005 according to forestry experts.
The money is required for 40 timber and plywood projects, including the construction of a high-grade woodworking factory producing 2,000m3 a day and a US$111.1m plywood mill is also mooted.
Experts say the industry, which suffers from outdated machinery and a shortage of raw materials, should target sales at countries including England, Japan and Denmark.
Plywood factories operate at only 50-60% capacity and laminated timber plants at just 20%, due to the government limiting the volume of timber extracted in a bid to protect forests.
