Expanding the market, taking advantage of e-commerce
According to the Ho Chi Minh City Wood processing and processing Association (HAWA), the wood processing industry is increasing added value through the transition to the ODM model (production based on original designs), while promoting e-commerce with large platforms such as Amazon, Alibaba... to reach international customers. In the past 9 months, the export turnover of the wood industry reached 12 billion USD and is aiming to reach 18 billion USD this year.
"For wood products to enter the world market, each country must create a segment for itself, combined with technological innovation. This requires businesses to open up new skills and re-sect market segments. The project management game also has to redame design and production in Vietnam" - Mr. Nguyen Chanh Phuong, Vice Chairman of HAWA, noted.
Although the export market still has many difficulties and fluctuations, with market diversification, technological innovation and continuous updating of consumer trends, businesses expect to be able to achieve the growth target for the year.
Accelerating exports thanks to technology and international standards
Ms. Tran Thi Ngoc Lan - Founder of ANTO Tea Company Limited, and Deputy Head of Market Planning Department of Chien Thang Garment Joint Stock Company - said that Chien Thang Garment Joint Stock Company has achieved 90% of its revenue from exports to the EU thanks to proactively searching for domestic raw material supply.
Meanwhile, the Hibiso brand of ANTO Company has successfully successfully exported officially to Korea and the Netherlands, exempted from import tax thanks to production at a factory that meets GMP standards and is inspected by the SGS organization.
Ms. Lan recommends that to be successful in exports, businesses need to proactively adjust packaging and product labels to comply with import standards, and at the same time use certificates of origin of goods to receive tariff incentives. The shift to recycled materials and cooperation with international inspection organizations will help enhance product reputation.
Applying blockchain technology to trace the origin, participating in international trade fairs is also an effective solution to expand the business network.
According to Dr. Can Van Luc, to promote economic growth in the last months of the year, it is important to focus on strongly exploiting new drivers. First of all, digital transformation and the application of science and technology need to be implemented more drastically to increase labor productivity as well as the productivity of synthetic factors.
At the same time, developing green growth and proactively adapting to climate change is a mandatory requirement. We must gradually enhance our position in the global value chain, while promoting supporting industries so that domestic enterprises have a more solid position.
We also have to maintain the export front, not only goods but also services, and at the same time have timely support mechanisms for businesses affected by negative impacts from tariff policies. Policy coordination needs to ensure harmony, both maintaining growth targets and stabilizing the macro economy" - Dr. Can Van Luc said.
