Mr. Le Ngoc Cuong, Chairman of the Board of Directors of Binh Thuan Forestry Co., Ltd

Mr. Le Ngoc Cuong, Chairman of the Board of Directors of Binh Thuan Forestry Co., Ltd, said that immediately following the merger, the company, guided by the Provincial People’s Committee and supported by relevant authorities and localities, upheld its self-reliance. It enhanced its initiative, creativity, courage, and responsibility, fostering great solidarity and unity from the highest leadership to all employees. These employees, always eager to work with the utmost sense of responsibility, completed all political tasks and preserved and grew the State capital within the company.

The company’s core business encompasses afforestation and timber processing. At present, the company manages 18,000ha of commercial natural forests, including over 10,000ha of planted forests (5,000ha of acacia melaleuca, 3,000ha of eucalyptus, and 2,000ha of rubber). The natural forest area is nearly 4,000ha. Currently, approximately 10,000ha of forests have received FSC certification.

The company consistently prioritizes the improvement of the quality of planted forests. Having invested in 100% of the land area, it has concentrated on implementing effective afforestation methods and reducing investment costs to enhance the productivity and quality of the planted forests.

Binh Thuan Forestry Co., Ltd is actively engaged in conducting research on plant varieties that thrive in local soil conditions, upgrading forest planting and tending technologies, and developing specialized technical personnel to enhance timber productivity and quality. In collaboration with forestry research institutes nationwide, the company shares experiences and conducts research on seed sources, treatment solutions for planted forests, and strategies for managing pests and diseases, all aimed at improving forest quality and reducing input investment costs.

Furthermore, Binh Thuan Forestry Co., Ltd conducts annual evaluations of the growth of planted forests, promptly supplementing reasonable solutions for each stage of forest growth. It devises a master plan for the production land area to develop specific plans for growing tree species suitable for local soil, thereby ensuring investment efficiency.

As a forestry company, Binh Thuan Forestry Co., Ltd consistently aligns its business operations with forest management and protection. The company has recently implemented numerous consistent solutions for patrolling, managing and protecting forests in each area. It has trained forest protection forces and local people to enhance their professional capacity, regularly conducted patrols, and carried out unexpected and periodic inspections to promptly prevent violations related to forest management and land management. The company actively collaborates with relevant agencies in patrolling, preventing and handling cases related to forest management and protection. Currently, the company is urgently finalizing land legal documents to facilitate forest management and protection and long-term silvicultural investment projects, such as granting new or renewed land use rights certificates to stabilize long-term production.

In addition, the company operates an effective high-end wooden furniture processing factory, which plays a crucial role in promoting the consumption of planted forest products, improving living standards, and ensuring jobs for local people. To date, the company’s high-end wooden furniture products, including tables, chairs, bed cabinets, salons, sofas and couches, have gradually established a strong foothold in Binh Thuan province.

Chairman Cuong emphasized that Binh Thuan Forestry Co., Ltd consistently prioritizes employee policies and personnel training as key factors in its operations. The company is committed to enhancing employee performance, actively fostering competence, professional qualifications, management knowledge, and expertise in line with market mechanisms and international economic integration. It ensures comprehensive social insurance, health insurance, and unemployment insurance for employees, and fulfills its tax obligations to the State Budget. Additionally, the company effectively engages in social charity and supports funds and programs initiated by localities.

Binh Thuan Forestry Co., Ltd is actively engaged in the expansion of its business operations while concurrently prioritizing forest conservation within the province

Building on its achievements, Binh Thuan Forestry Co., Ltd is poised to evolve into a formidable company in the future. It plans to leverage technology, science and modern management to bolster its competitiveness and business performance. The company intends to capitalize on its brand value to penetrate both domestic and foreign markets. It will persist in maintaining solutions for forest management and protection and enhancing forest quality. The company will concentrate on researching new high-quality tree varieties and applying science and technology to tissue culture to augment the productivity of planted forests. It is in the process of completing the establishment of the tissue culture nursery project in Ham Tan, with construction expected to commence in 2024. This project is designed to meet its requirements for growing large timber trees, aligning with its long-term business strategy.

Furthermore, Binh Thuan Forestry Co., Ltd will persist in restructuring its planted forest production, placing emphasis on localized planning to cultivate large trees (9-12 years old). This strategy aims to augment product value, minimize investment costs, and yield both economic and environmental benefits. Concurrently, the company will process FSC/CoC-certified forest products (5-6 years old) to enhance the value of planted forests and establish a value chain that spans from nursery to afforestation, processing, service and export.

Binh Thuan Forestry Co., Ltd will also continue to seek partners possessing robust financial capacity to undertake raw (or refined) processing plant projects for export, increase the value of FSC/CoC-certified timbers, and invest VND180 billion in the construction of artificial board, pellet and chip factories. These factories, equipped with European machinery and equipment, will produce EU-standard wood pellets for export, with a minimum annual production capacity of 50,000 tons. Additionally, they will produce interior and exterior products to utilize the available raw materials from planted forests, as emphasized by the company.