Vietnam’s growing wood industry is interesting foreign investors,according to Chad Ovel, a partner at the private equity firm MekongCapital, at a workshop in Ho Chi Minh City on June 12.
Vietnam is now a potential destination for investors thanks toits stable macro-economy, curbed inflation, appropriate credit growthand abundant labour and consuming markets, Ovel said.
Notably, the Trans-Pacific Partnership agreement, which is undernegotiation, will offer a great opportunity for the country’s handicraftand wood industry to expand its markets, he added.
He noted that to utilise development opportunities, Vietnam needs tomanufacture high-quality products by improving productivity andworkers’ skills.
Nguyen Quoc Khanh, Chairman of theHandicraft and Wood Industry Association of HCM City (HAWA), said amidstthe unstable political situation in the region and the world, Vietnam’swood industry is emerging as a stable destination for foreigninvestors.
Over the past year, many large importersaround the world have imported wood products from Vietnam instead ofChina, since the latter’s labour costs have been much higher, he said,adding that such an advantage has helped HAWA members enter new markets,raise productivity and add more value to domestic wood material.
Khanh said to maintain relations with foreign partners, Vietnamesebusinesses should thoroughly learn about other countries’ customssystems and seek for prestigious distributors. They also need to hireskilful designers, give more training to their marketing teams andparticipate in fairs in the field.
HAWA said in thecoming time it will organise workshops so that its member businesses canfind out more information, seek partners and promptly grasp developmentchances.
Vietnam is currently the largest wood exporter in ASEAN and ranks 10 th in the world.
According to General Secretary of the Vietnam Timber and ForestProducts Association, Nguyen Ton Quyen, wood export revenues hit arecord high of 5.7 billion USD in 2013. If other forestry products suchas handicrafts and rattan-ware items are included, the amount hit almost6 billion USD.
Vietnam aimed to export a total 6.2 billion USD worth of wood products this year, up 9 percent compared to 2013, he said.-VNA
Vietnam is now a potential destination for investors thanks toits stable macro-economy, curbed inflation, appropriate credit growthand abundant labour and consuming markets, Ovel said.
Notably, the Trans-Pacific Partnership agreement, which is undernegotiation, will offer a great opportunity for the country’s handicraftand wood industry to expand its markets, he added.
He noted that to utilise development opportunities, Vietnam needs tomanufacture high-quality products by improving productivity andworkers’ skills.
Nguyen Quoc Khanh, Chairman of theHandicraft and Wood Industry Association of HCM City (HAWA), said amidstthe unstable political situation in the region and the world, Vietnam’swood industry is emerging as a stable destination for foreigninvestors.
Over the past year, many large importersaround the world have imported wood products from Vietnam instead ofChina, since the latter’s labour costs have been much higher, he said,adding that such an advantage has helped HAWA members enter new markets,raise productivity and add more value to domestic wood material.
Khanh said to maintain relations with foreign partners, Vietnamesebusinesses should thoroughly learn about other countries’ customssystems and seek for prestigious distributors. They also need to hireskilful designers, give more training to their marketing teams andparticipate in fairs in the field.
HAWA said in thecoming time it will organise workshops so that its member businesses canfind out more information, seek partners and promptly grasp developmentchances.
Vietnam is currently the largest wood exporter in ASEAN and ranks 10 th in the world.
According to General Secretary of the Vietnam Timber and ForestProducts Association, Nguyen Ton Quyen, wood export revenues hit arecord high of 5.7 billion USD in 2013. If other forestry products suchas handicrafts and rattan-ware items are included, the amount hit almost6 billion USD.
Vietnam aimed to export a total 6.2 billion USD worth of wood products this year, up 9 percent compared to 2013, he said.-VNA
