HCMC – The situation has been exacerbated for the wood processing industry, resulting from falling prices and rising manufacturing costs amid fewer fresh orders.
Importers are imposing higher standards on production and delivery times, pushing manufacturers to expedite production despite receiving fewer orders, according to Nguyen Phuong, director of Minh Thanh Company. He made these remarks during a press briefing on the upcoming 2023 BIFA Wood Vietnam exhibition on June 22.
Meanwhile, Nguyen Anh Tuan, director of Dai Phuc Vinh Company, pointed out that Vietnam’s timber industry is losing its competitive edge against international rivals due to growing manufacturing costs driven by labor-intensive processes and complex production procedures. He suggested implementing measures to streamline manufacturing operations.
Do Xuan Lap, chairman of the Vietnam Timber and Forest Products Association (VIFOREST), stressed the importance of enhancing the competitiveness of local woodworking enterprises during periods of falling prices.
Customs data showed that Vietnam’s wood and wooden product exports reached only US$4.96 billion from January to May, a US$2.06 billion decrease compared to the same period last year.
The 2023 BIFA Wood Vietnam exhibition is scheduled to take place at the WTC Binh Duong New City Expo Center in the southern province of Binh Duong from August 9 to 12.
Organized by Vietnam Forestry Fair JSC in collaboration with ZhongFuYing Fair, the four-day exhibition will focus on technological advancements, cost reductions in production, and material consumption, with the aim of improving the competitiveness of Vietnamese woodworking companies.
It is expected to help diversify the sources of wood materials and boost wood exports, contributing to Vietnam’s target of achieving US$20 billion in wood exports by 2025.
The event is anticipated to attract more than 5,400 participants from over 100 enterprises in the industry, both from Vietnam and various countries and territories worldwide, who will showcase their products at nearly 800 booths.
