Wood enterprises step up trade promotion due to lack of orders
Wood producers and exporters are pinning high hope on trade fairs and expos, as the lack of orders is causing difficulties for their production and business activities, according to insiders.
In the first seven months of this year, the export turnover of wood and wood products reached only US$7.1 billion, down 25% year-on-year.
Notably, the demand of the US – a key export market which accounts for about 60% of the export turnover of Vietnam's wooden products, has fallen sharply for a long time and has not shown any signs of recovery.
Tran Hoai Huu, Manager of Gia Nhien Company specialising in the production of sailboat models for export, said that the number of the company’s orders from the US has dropped to a very low level, equal to only 20-30% of that before the COVID-19 outbreak.
Tran Ngoc Liem, Manager of the Vietnam Chamber of Commerce and Industry branch in Ho Chi Minh City, said that currently, there are many forms of trade promotion, but fairs and exhibitions remain an effective channel to attract a large number of domestic and foreign buyers, thus bringing practical effects to businesses. Through those fairs and exhibitions, buyers can have direct look on products, visit factories to verify suppliers' capacity, and have more confidence to sign orders.
To support businesses, the first Vietnam ASEAN International Furniture & Home Accessories Fair (VIFA ASEAN 2023) will be held in Ho Chi Minh City from August 29 to September 1.
It is expected to comprise 600 booths of domestic firms and those from the US, the Republic of Korea, China, Japan, India, the Netherlands, Hong Kong (China), Malaysia, Thailand and Cambodia.
Meanwhile, the 15th edition of the Vietnam International Furniture and Home Accessories Fair (VIFA EXPO 2024) will be organised in the largest economic hub of Vietnam from February 26-29. The fair is hoped to attract the participation of 600 businesses with 2,000 stalls.
