Vietnam Woodwork Makers Pin Hopes on Domestic Market
Vietnamese wooden furniture makers advanced their interest in the domestic market after their export revenues dropped amid the global economic downturn.
The Vietnam Wood and Forestry Product Association has decided to revise down its yearly export target by $200 million to $3 billion because of poor performances in the European and American markets.
Dang Thi Mai, director of the research institute on enterprises and consumers, the woodwork sector has seen a great potential at the domestic demand.
The HCM City Handicraft and Wood Industry Association (Hawa) said that local demand has continued to rise at an annual growth rate of 15%.
In addition, the recovery in the property market and resumption of construction will help the industry.
Hawa deputy chairman Dang Quoc Hung said enterprises should map out comprehensive development strategies to capitalize on opportunities in the domestic market.
The association plans to set up a joint stock company to distribute its members’ wooden products, and boost business co-operation between producers and distributors.
Some companies have successfully developed retail networks in the local market, including Nha Xinh, Truong Thanh and Nguyen Thanh by boosting sales on the internet and providing good after-sales services. (VNS)
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