Vietnam to Export US$3 Bln Wooden Furniture This Year
Vietnam is expected to export US$3 billion worth of wooden furniture this year, General Secretary of Association of Vietnamese Wooden Product Makers Nguyen Ton Quyen told a meeting in Hanoi February 26.
However, the sector will see the unsustainable development with restricted production competitiveness this year because it imports up to 80 per cent of input materials and low competitiveness, Quyen told Saigon Tiep Thi (Saigon Marketing) newspaper.
Quyen also noted that Vietnam now has 2,000 export-oriented wooden product processing companies, of which 300 are foreign-invested firms, which have exports accounting for 50 per cent the country’s total value.
Wooden furniture products are listed among Vietnam’s cash earners behind crude oil, apparel, footwear and seafood products. (Saigon Marketing)
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