In the context of the global economy still facing many fluctuations, the Vietnamese wood industry in general and Ho Chi Minh City in particular are still assessed as having a lot of development potential. Businesses and industry associations believe that if chain links are strengthened, production capacity is improved, and coordination between stakeholders is promoted, the wood industry can completely expand its market share and increase value in the international market.
Mr. Tran Lam Son - Deputy General Director of Thien Minh Import-Export Trading Co., Ltd. said that the world furniture market is still very large. The important thing is that Vietnamese businesses need to link up to build strong supply chains, from finance, raw materials to production and logistics. When that is done, the Vietnamese wood industry will have more opportunities to expand market share and enhance brand value in the international market.
From the perspective of industry associations, Mr. Nguyen Chanh Phuong - Vice Chairman of the Ho Chi Minh City Handicrafts and Wood Association (HAWA) said that the context of geopolitical conflict has begun to affect trade activities and international exhibitions of the industry.
However, according to a preliminary survey, the market of Ho Chi Minh City has not yet recorded significant unusual signs. In the first two months of the year, the export turnover of wooden furniture of Ho Chi Minh City reached about 1.3 billion USD, accounting for nearly 50% of the total export turnover of the whole country. Export growth in January reached 12.6%, while February slowed down due to coinciding with the Lunar New Year holiday.
To contribute to the city's growth goals, HAWA believes that there needs to be a closer coordination mechanism between management agencies and industry associations. Specifically, the city may consider forming a mechanism or department to develop industries, with the participation of the Department of Industry and Trade, Ho Chi Minh City Development Research Institute and business associations. The goal is to turn proposals and initiatives into specific projects, with implementation roadmaps and effective monitoring mechanisms.
In addition, HAWA also emphasized the role of universities in supporting industry development. Currently, cooperation between businesses and universities is still quite limited, mainly stopping at businesses supporting internships or some training activities. Meanwhile, universities with strengths in research and training high-quality human resources can contribute more to the process of innovation and industry development.
According to HAWA representatives, concretizing action programs through clear projects and coordination between management agencies, research institutes, universities and business associations will help industry development initiatives be implemented more effectively. The Association also affirmed its willingness to coordinate with the Department of Industry and Trade, Ho Chi Minh City Development Research Institute and related units to concretize proposals as well as implement the directions of city leaders.
