Tiếng ViệtAt the ‘Vietnam Furniture and Wood Industry Forum’, Mr. Nguyen Quoc Khanh, chairman of the Ho Chi Minh City Handicraft and Woodworking Association, said that from the end of the second quarter of 2023, orders for the wood industry have started to return though not much.
However, Vietnam’s furniture industry is still able to fulfill its export targets and needs a new strategy to achieve more sustainable goals.
Sharing specifically about the recovery signal from the top 5 export markets of Vietnamese furniture such as the US, Europe, Japan…, Ms. Tran Nhu Trang, representative of SIPPO Vietnam program, said not only slightly increased again, these markets also appeared many new trends and requirements.
For example, the European market – which leads the main consumption trend of this group when accounting for two-thirds of the market share of high-end products imported from Vietnam – poses many requirements for sustainable consumption. Products are required to have a “digital passport”, providing enough information about environmentally friendly materials, production processes…
Other potential markets such as Japan, Korea, India, Canada… also recorded that consumers began to return to shopping stores and also had high requirements for commitments to reduce carbon emissions.
“The problem for Vietnamese wood enterprises is to thoroughly understand and follow the growth dynamics of each market and identify each segment that is suitable for their capacity such as furniture for restaurants, hotels, and education. Especially, The requirements for sustainable production are increasingly strict in terms of new materials, new wood products, digitalization of production processes, etc. If businesses keep up, the opportunity for growth is even greater”, Mrs.Trang said.
According to Mr. Le Hoang Tai – Deputy Director of the Trade Promotion Department (Ministry of Industry and Trade), to support businesses to overcome market difficulties, wood industry associations actively coordinate with the ministry to build and organize Organizations, select groups of goods with strengths and potential for export, enterprises participate in promotion activities at home and abroad.
“It is expected that the trade promotion meeting with the deal in July 2023 of the Ministry of Industry and Trade will also focus on exchanging information and market development solutions for the wood industry.
Another important activity is that the ministry will act as a focal point to coordinate with the Vietnam Timber and Forest Products Association and local wood associations to organize a display area to promote the Vietnamese wood industry at the High Point Market fair in the US in October 23rd to help businesses update information about the market, customers, promote the potential and reputation of Vietnam’s wood industry”, Mr. Tai informed.
