Why Hanoi, Vietnam?


Hanoi is Vietnam's capital and second largest city by population, which constitutes of over 7.8 million people as of year 2018. The city mostly lies on the right bank of the Red River. Hanoi's population is constantly growing (about 1-3% per year in the current decade), a reflection of the fact that the city is both a major metropolitan area of Northern Vietnam, and also the country's political center.

Hanoi’s 2017 gross regional domestic product (GRDP), retail sales and service revenues were 8.5%, 11.3% and 11.2% higher than in 2016. It was predicted by economists that this trend in the capital’s economy will continue.

In 2018 the wood-working industry comprised 4,500 operating companies producing exports of US$8.9 billion, putting Vietnam in 15th position in global exports, employing 500,000 workers and now exporting to 120 countries (up from 50 in 2005). The #1 market for Vietnam’s wood products is the USA, which constitute of 42%.

Vietnam market’s American hardwood export has increased 17.5% to US$281.2 million, from year 2017 to 2018. This has accounted for 77.3% of the south-east Asia (SEA) market, in which Vietnam being the #1 of hardwood exports in SEA region. In further breakdown, the value of U.S. export of hardwood lumber, logs and veneer to Vietnam has spurred 21.2%, 7.6% and 4.5% respectively, compared to 2014.

Prime Minister Nguyen Xuan Phuc chaired and set the targets of exporting timber and wood products in order to achieve US$11 billion in 2019, and US$20 billion in 2025 at the Vietnam Wood Processing Forum dated 22 February 2019. To reach that export value, the materials used by the industry are always an important issue, especially sustainable and legal materials which are prioritized by Vietnam. Wood from the USA is one of the important supplies for Vietnam's wood processing industry.