HCMC – Given the protracted decline in orders, many businesses in the wood processing industry have increased their marketing campaigns and participation in furniture and wood product exhibitions to boost sales and enhance operations.
Dang Quoc Hung, general director of Alliance Handicraft & Wooden Fine Art Corporation, said the export of wooden furniture has increased slightly, but the total export volume of wooden furniture has remained modest.
Data showed that in the first seven months of 2023, Vietnam’s wooden furniture export revenue dropped 26.2% year-on-year to US$7.2 billion.
His statement was made during a recent press briefing on the international fair for furniture and fine arts exports, or VIFA ASEAN 2023, set to take place from August 29 to September 1 in District 7, HCMC.
According to Hung, a drop of orders in the traditional markets has compelled businesses in the industry to seek out new markets, such as the Middle East, Africa, and ASEAN, among others. “Notably, local firms want to get into the ASEAN market by receiving potential orders at VIFA ASEAN 2023,” he added.
The event will bring together domestic and international manufacturers from the wood and fine art industries. Participants will include leading businesses from the U.S., South Korea, China, Japan, India, the Netherlands, Hong Kong, Malaysia, Thailand, and Cambodia, among others.
In its inaugural edition, VIFA ASEAN has garnered significant attention, attracting the participation of nearly 200 businesses with their products to be showcased in over 600 booths. The event is expected to welcome over 2,000 international visitors.
Wood industry experts are optimistic about the potential positive impact of VIFA ASEAN 2023 on the development of HCMC as a prominent trade hub for furniture, interior, and exterior furnishings in ASEAN.
According to Tran Hoai Huu, director of Gia Nhien Co., Ltd., businesses are likely to get additional orders through their diligent promotion on Alibaba e-commerce platforms, as well as their active participation in fairs and exhibitions.
Simultaneously, the company has implemented a robust discount programs in order to attract customers, he added.