Malaysia’s government plans to allocate RM3 billion to expand the country’s forest plantation by up to 375,000ha by 2020 to ensure a sustainable and guaranteed supply of raw materials for wood related industries. Source: The Star Online
Deputy Prime Minister Tan Sri Muhyiddin Yassin said that to date the Government had allocated about RM600mil for the forest plantation program.
“The Government is upbeat on the prospects of the wood-related industry and the allocation (financial) reflects our commitment in its development,” he said.
Muhyiddin said the wood related industry was one of the country’s main revenue earners and it had generated a yearly export income of RM21.7bil from 2006 until 2010 and created around 300,000 job opportunities.
He said wooden furniture remained Malaysia’s main wood-based product for export and in 2011, the total furniture exported amounted to RM6.5bil or 32.5% of the total wood-based products.
“Malaysia is the eighth largest furniture exporter in the world and third in Asia,” said Muhyiddin.
Muhyiddin said with the National Timber Industry Plan, Malaysia could achieve the target of exporting RM53bil of wood-based products and emerge as one of the top three furniture exporters in the world by 2020.
