Woodwork sector told to seize opportunities after crisis
By Hong Van - The Saigon Times Daily
HCMC – Challenges caused by the global economic downturn also pose opportunities for local exporters to grow, and local furniture makers should seize them, said Nguyen Thanh Bien, Deputy Minister of Industry and Trade.
“Enterprises should see the challenges as a chance to develop,” Bien said at the opening ceremony of the Vietnam International Furniture and Home Accessories Fair 2010 (VIFA) in HCMC on Thursday.
The HCMC Handicraft and Wood Industry Association (HAWA) organizes the event, which features more than 600 booths manned by 150 local and international enterprises and highlights advances in the woodcraft industry.
Bien praised local companies for their efforts in the aftermath of the crisis.
“They are more dynamic and have focused on products and designs to reach out to new markets to overcome difficulties,” he said.
The woodwork industry is a major exporter in Vietnam, earning US$2.5 billion in 2009. The industry’s export value is expected to reach US$3 billion this year.
The increase is significant compared to a decade ago, when the industry’s annual furniture export revenue reached just millions.
Nguyen Chien Thang, HAWA’s chairman said Vietnam’s woodwork industry was thriving.
“Vietnam has become the leading interior furniture provider in Southeast Asia and has exported to 120 nations and territories,” he said.
Local enterprises expect to obtain this year’s US$3 billion target given the strong growth, Thang said.
Meanwhile, other exporters in the region such as Thailand, Indonesia and Malaysia have recovered slower than Vietnam. “Vietnam has skilled workers and can import wood materials at customer demand, so we can provide a wide variety of products for international importers,” Thang explained.
VIFA 2010 will run until March 14. The Saigon Times Group is the event’s media sponsor.