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INSIGHT
VIETNAM ASCENDANT Vietnam’s furniture industry has long been one of Southeast Asia’s premier furniture manufacturing hubs, and is rapidly taking pole position with UK importers thanks to a free trade agreement (FTA), young, skilled labour force, advanced technology, foreign investment and creative design …
In June 2019, Vietnam’s government entered a voluntary partnership agreement (VPA) that committed it to FLEGT, an EU action plan to combat illegal logging. By doing so – and through the government’s subsequent efforts to implement FLEGT’s principles since the agreement came into effect – Vietnam’s furniture industry has become increasingly sustainable in outlook, and more able to meet the demands of the modern consumer. “Vietnam’s furniture exports will reach US$16b in 2022,” says Đo Xuan Lap, chairman of the Vietnam Timber and Forest Product Association (VIFOREST), and are set to reach US$25b in 2030, according to Vietnam’s vice-PM, Le Van Thanh, who has approved a national project to transform the country’s furniture industry into a key sector of its national economy. Having rapidly executed a successful vaccination programme, Vietnam is now reopening for business, and all travel restrictions have been lifted. Meanwhile, Vietnamese officials state that the country’s furniture manufacturers
are running at full capacity to meet increasing global demand. Top producers include Thanh Thanh Dat Co, Phu Tai, Great Veca Viet Nam Co, DHT International Investment and Import Export, Tien Dat Furniture Co, Rapeco - Dai Nam Co, Dai Thanh Furniture, Duc Hai Co, Long Dat Import - Export and Production Co, and Lotus Sofa. Buyers keen to explore the wealth of opportunities available are invited to attend this year’s VIFA-EXPO (www.vifafair.com, see p30), which returns to Ho Chi Minh City from 31st August to 3rd September. Vietnam’s biggest furniture show is also one of Southeast Asia’s leading events, and promises to deliver a host of new collections. Samples can also be viewed at The Popular, a showcase of furniture made in Vietnam, housed in K&P Global’s warehouse in Rochester, Kent (visit www.thepopular.co.uk for details). Thanks to extensive experience, myriad processing capabilities and fresh government support, Vietnam’s star in the global furniture industry is very much on the ascendant
VIETNAM’S FURNITURE EXPORTS WILL REACH US$16B IN 2022
