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|Wood manufacturers ramping up capacity to fulfil orders for the year-end shopping season|
According to the Ministry of Industry and Trade (MoIT), major markets for Vietnam's wood industry such as the United States, the United Kingdom, France, and the Netherlands have increased demand by 50 per cent over the same period last year. This opens up many opportunities for the local industry to increase exports.
At the recent webinar titled Vietnam Furniture Supply Chain Recovery Plan, Bui Thanh An, deputy director of the MoIT's Trade Promotion Department said that international buyers highly appreciate the resilience of Vietnam's wood industry: "During the past two years of global health crisis, Vietnamese furniture enterprises have shown good resilience to sail through the challenges."
Including interior and exterior products and fine art decoration, Vietnam has exported $10 billion worth of wood products in the first half of 2021, up 70 per cent on-year.
Benjamin Petlock, Agricultural Attaché at the US Consulate General in Vietnam, said that Vietnamese furniture products receive positive responses in the US. Trade ties between Vietnam and the US, with the former as a source of wood materials and high-quality furniture, have grown strongly in recent years.
He added that the impact of the pandemic is causing disruptions to the global supply chain with rising transportation costs and raw material prices. However, the supply chain will quickly re-establish its order as countries become more aware and have a clearer strategy to live with COVID-19.
Sharing the same view, representatives of large international enterprises such as H.Nicolas & Co and KODA also affirmed their belief in the recovery of the supply chain as well as the recovery of Vietnamese enterprises in the coming time.
According to the Ho Chi Minh City Handicraft and Woodworking Association (HAWA), many local firms are looking for new opportunities in the crisis. They have actively found ways to adapt to new conditions including retaining workers, seeking a stable source of raw materials, and applying modern machinery and equipment with a view to reducing dependence on human resources and improve product quality.