Illustrative image (Source: VNA) HCM City (VNS/VNA) -Many wood processing firms have managed to operate despite the COVID-19pandemic and many have even chalked out measures to take advantage of theopportunities on offer when the pandemic is over.
Vu Hai Bang, CEO of Woodsland,one of the country’s leading furniture exporters, said his company had receivednotice from US and EU customers to delay or stop delivery as soon as theirgovernments announced measures such as border closure and social distancing.
But luckily, it got new ordersfrom customers who had been buying from Malaysia, he said.
Vietnam has better controlledthe pandemic than other countries in the region, and so businesses have beenfunctioning normally despite the social distancing, he added.
Huynh Quang Thanh, Chairman andCEO of Hiep Long Fine Furniture Company in Binh Duong province, said thanks todiversifying its markets and exporting to North America, the Middle East, Japanand other places, his company continued to do business despite the tough times.
Nguyen Quoc Khanh, Chairman ofthe Handicraft and Wood Industry Association of HCM City (HAWA)and of AA Corporation, said despite the disease outbreak, he did not close hisfactory, only partially reduced production capacity.
The company also activelyinformed customers that it remained in production, and this would make themthink of it first when the pandemic is over, he said.
"I think businesses in theindustry should be optimistic and ready for the recovery," he said.
During the social isolationperiod, demand for indoor furniture, decorative items and handicrafts increasedbecause people were staying at home, he explained.
When the US and EU relax socialdistancing and stores reopen, the demand for furniture would increase sharply,he said.
“This will be an opportunityfor us to change export product lines. Many Chinese enterprises have closedsince the beginning of the year. They will take some time to resume operations.
“In the long run, businessesmust redo business strategies and organise trade promotion activities online.”
Nguyen Chanh Phuong, HAWA’svice chairman and general secretary, said diversification of market segments isvery important.
"We have worked with ourKorean partners to find opportunities in this market," he said.
President of the Vietnam Timberand Forest Product Association Do Xuan Lap said firms need to makeproduction and business plans, “consolidate” factories, identify suitabledistribution solutions, and rebuild disrupted supply chains.
Khanh said: "Theopportunity after the pandemic is real. But the opportunities will only beavailable to businesses that are well prepared. There are two key factors thatenterprises must implement, digital transformation and market diversification.”
Phan Thanh Son, businessdevelopment director of FPT Information System, said the world after thepandemic would not be the same as before. This will be a different world wherepeople sell online, produce online, design online, distribute and marketonline, and even traditional supply chains would shift to online supplynetworks.
Vo Tri Thanh, former deputydirector of the Central Institute for Economic Management, said COVID-19 ischanging the way people live, shop and do businesses.
Businesses must change theirproduction and trading strategies to adapt to an uncertain and risky world, andthey must learn how to manage risks and uncertainty, he said./.
VNA
