Wooden firms search orders via festivals amid declining export | Enterprise

Wood companies seek orders through fairs amid declining export hinh anh 1Illustrative picture (Photograph: nongnghiep.vn)

Hanoi (VNA) – Wooden and tremendous arts enterprises
hope to hunt potential clients on the Vietnam ASEAN Worldwide Furnishings
& Dwelling Equipment Honest (VIFA ASEAN 2023), scheduled to happen in HCM
Metropolis from August 29 – September 1, within the context of a pointy lower within the export of wooden and wood merchandise within the final 4 months.

Addressing a Might 23 convention to announce the organsation of the truthful, Tran Ngoc Liem, Director of the Vietnam Chamber of
Commerce and Trade, Ho Chi Minh Metropolis Department (VCCI-HCM), mentioned going through the
world financial downturn, a mean of about 19,000 companies withdraw from the
market each month.

Over 80% of the enterprises working within the wooden business
have been affected, with reducing income, he added.

Statistics of the Basic Statistics Workplace present that the
export turnover of wooden and wooden merchandise totaled an estimated 1.2 billion USD
in April, and 4 billion USD within the first 4 months of 2023, down 24% and 28% year-on-year.

The excessive costs of world gasoline and power have an effect on manufacturing
prices of wooden enterprises, Liem mentioned, including that the inflation charge nonetheless stays
excessive and financial coverage has not been loosened.

Wood companies seek orders through fairs amid declining export hinh anh 2Contributors on the convention (Photograph: nongnghiep.vn)

The gradual restoration of the worldwide economic system and the
collapse of some banks on the planet have led to the pattern of tightening spending on
non-essential merchandise resembling wooden and wooden merchandise in huge markets, together with the US and the European Union (EU), inflicting sharp drops in import demand, he

China’s reopening additionally creates competitors strain on
wooden and wooden merchandise, particularly Vietnam’s wood furnishings, he famous.

Wooden enterprises additionally meet difficulties associated to curiosity
charges, and in accessing capital.

Many companies, that are going through a pointy decline in orders, nonetheless have to take care of
manufacturing and watch for enchancment, Liem went on.  

The nation’s export turnover of wooden and wooden
merchandise within the first half of 2023 is forecast to drop by between 28%-32% in contrast
to the identical interval final yr.

In accordance with Cao Ba Dang Khoa, performing normal
secretary of the Vietnam Coconut
Affiliation (VCA), the internet hosting of  VIFA ASEAN 2023 will assist
flip Ho Chi Minh Metropolis right into a regional and worldwide furnishings centre.

It is going to supply a venue for exhibitors to entry
potential clients, thus increasing export markets, he famous.

VIFA ASEAN 2023, which shall be collectively hosted by Lien Minh
Wooden Handicraft JSC, VCCI-HCM and VCA, iexpects to
entice 1,400 cubicles from 350 home and worldwide export furnishings &
handicraft producers and processors./.


Related Articles


Please enter your comment!
Please enter your name here

Latest Articles