Business

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.
Wood enterprises step up trade promotion due to lack of orders ảnh 1In the first seven months of this year, the export turnover of Vietnam's wood and wood products reaches only 7.1 billion USD, down 25% year-on-year (Photo: VNA)
HCM City (VNA) – Wood producers and exporters are pinning high hopeon trade fairs and expos, as the lack of orders is causing difficulties fortheir production and business activities, according to insiders.

In the first seven months of this year, the export turnoverof wood and wood products reached only 7.1 billion USD, down 25% year-on-year.

Notably, the demand of the US – a key export market whichaccounts for about 60% of the export turnover of Vietnam's wooden products, hasfallen sharply for a long time and has not shown any signs of recovery.

Tran Hoai Huu, Manager of Gia Nhien Company specialising inthe production of sailboat models for export, said that the number of thecompany’s orders from the US has dropped to a very low level, equal to only20-30% of that before the COVID-19 outbreak.

Tran Ngoc Liem, Manager of the Vietnam Chamber of Commerceand Industry branch in Ho Chi Minh City, said that currently, there are manyforms of trade promotion, but fairs and exhibitions remain an effective channelto attract a large number of domestic and foreign buyers, thus bringing practicaleffects to businesses. Through those fairs and exhibitions, buyers can havedirect look on products, visit factories to verify suppliers' capacity, andhave more confidence to sign orders.

To support businesses, the first Vietnam ASEAN InternationalFurniture & Home Accessories Fair (VIFA ASEAN 2023) will be held in Ho ChiMinh City from August 29 to September 1.

It is expected to comprise 600 booths of domestic firms andthose 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 VietnamInternational Furniture and Home Accessories Fair (VIFA EXPO 2024) will be organisedin the largest economic hub of Vietnam from February 26-29. The fair is hopedto attract the participation of 600 businesses with 2,000 stalls./.
VNA
#Vietnam #lack of orders #wood exports #wood products #VIFA ASEAN 2023 #VIFA EXPO 2024 #Vietnam #Vietnamplus #Vietnam News Agency
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