While the demand for export markets remains low, the timber industry must increase its competitiveness to remain viable.
"Orders for wood exports have resumed, but the timeline for delivery has been reduced from 70–90 days to 45–60 days," said Nguyen Phuong, director of Minh Thanh Company, at a press conference ahead of August's Bifa Wood Vietnam 2023. "The new export standards for wooden furniture necessitate multifunctional technology and equipment. Vietnam intends to export $20 billion worth of wooden furniture by 2025."
Do Xuan Lap, president of the Vietnam Timber and Forest Products Association, said that local businesses should invest in technology to abbreviate production lines. Wood businesses are losing their price competitiveness as a result of their reliance on a large labour force and cumbersome production procedures.
"This fair will focus on strategies to reduce production costs and raw material consumption to enhance the competitiveness of Vietnamese wood businesses," Lap said.
Bifa Wood Vietnam 2023 will be held at the WTC Expo Binh Duong International Exhibition Centre from August 9 to 12. The trade show will see more than 100 enterprises with nearly 800 exhibits.
The fair is anticipated to facilitate access to new timber processing technology from countries and territories such as Italy, Hong Kong, China, and Taiwan, while also introducing diverse and legal raw material sources.
| ||Wood industry striving to regain growth momentum |
Having undergone numerous hardships, businesses in the wood industry are showing great resilience with a high level of adaption and flexibility to regain their growth momentum.
| ||Six product groups enjoy over 1-billion-USD exports to US in Q1 |
Six groups of products posted an export revenue of over 1 billion USD to the US market in the first quarter of this year, with the group of machinery, equipment, tools and spare parts topping with 3.98 billion USD, according to the General Department of Vietnam Customs.
| ||VIFA ASEAN 2023 – Gathering all best Southeast Asian furniture |
Following the success of VIFA EXPO in March, the Vietnam ASEAN International Furniture & Home Accessories Fair - VIFA ASEAN 2023 will be taking place from August 29 to September 1 at the Saigon Exhibition and Convention Centre (SECC), promising to be a reliable and high-quality connection point for global manufacturers and buyers in the region.