Launched on 2nd to 5th May, 2008, the International Jewelry Exhibition Vietnam 2008 drew a great number of foreign jewellers’ attention, which signals thriving growth in the Vietnam Jewellery market.
Recently, Vietnam is seen as an emerging economy for its prompt growth, which attracts a lot of foreign enterprises. Since early 2008, the Vietnam gold market has made good signals for the return of investors. As anticipated, Vietnam’s demands on gold and other jewelleries have slightly increased; moreover, many foreign jewellery makers and traders consider the Vietnam gold market a targeted market, which is exemplified through the participation of 100 jewellers from 15 countries and territories such as America, Hong Kong, Thailand, Malaysia, and Italy in the International Jewellery Exhibition Vietnam 2008.
Haja Nazemudden, sales manager of Monde D’or which specializes in making and designing 18 karat gold, said the Vietnam jewellery market stands out for its large, young population, who are interested in the Asian-style jewellery. He added that through this exhibition, the company focuses on collecting customers’ opinion through its product launch, as well as seeking potential distributors in this market.
According to Tim Tsang, a sales executive in the Hong Kong based East Arts Jewellery Manufactory Ltd., the Vietnamese jewellery market is a target for deeper penetration. He contended that the Vietnamese economy is in a dynamic transition with sustainable growth and wealth, with big opportunities in the jewellery market.
However, Haja Nazemuddeen from Monde D’or argued that Vietnam’s jewellery market is still underdeveloped when compared to other markets, namely Thailand, Singapore, and even Indonesia. The main reason is that the Vietnamese jewellers lack creative designs, still based on traditional models less attractive to youth.
According to Daniel Muller, director of Squido, communication is the major shortcoming facing Vietnamese jewellers. Attracting more European investors in the jewellery industry requires Vietnamese jewellers not only to exchange experiences but also to acknowledge the latest techniques with other goldsmiths. Additionally, the home jewellers are supposed to interact with each other through an effective association, providing the enterprises with updated information to keep up with international market development. On the other hand, the shortage of auxiliary industries results in many difficulties for the foreign jewellery manufacturers operating business here.
Bien Nggá»c
Vietnamese
