HCM City (VNA) – Wood enterprises gather𒅌ed at a workshop in Ho Chi Minh City on January 20, to map out business strategies in 2016.
The event was held by the Handicraft and Wood Industry Association of Ho Chi Minh City (HAWA).
Chairman of the HAWA Nguyen Quoc Khanh said 2016 is opening up excellent opportunities for the wood sector, especially with Vietnam having joined the ASEAN Economic Community last year, and signed a series of new-generation free trade agreements (FTAs).
Businesses should have a new vision to orient their development in the light of global integration, he said.
Chairman of the Truong Thanh Furniture Corporation Vo Truong Thanh, suggested businesses should maintain many sources of material supply which can guarantee criteria on product origins - in accordance with the commitments of the free trade agreements.
This will help businesses secure their foothold in the domestic market and boost export activities, he said.
Meanwhile, Chairman of the Woodland Co. Ltd Vu Hai Bang, warned that the pressure on labour resources will become heavy if the Trans-Pacific Partnership (TPP) Agreement comes into effect, and more foreign direct investment (FDI) businesses enter Vietnam .
To ensure sustainable development, wood companies should increase investment in design and imaging - to develop recognisable brand names, he suggested.
While it is advisable for business players to devise their own strategies to join the free trade markets and economic integration, experts noted that embracing links in the field is important to enhance competitiveness.
The HAWA should serve as a bridge for businesses to set up a chain of material supply and demand, along with production and distribution.
Businesses could work together to share experience in technological transfer, improve management capacity, and human resources training, experts said.-VNA
Vietnam's wood industry is expecting to reach this year's export target of 5.5 billion USD, thanks to a recovery in exports of its wood products, experts have said.
There is a big potential for Vietnam's wood processing industry to expand its share in both foreign and domestic markets, foreign and local experts concur.
Vietnam's export market for wood products will enter a golden period, according to Vice Chairman of the Handicraft and Wood Industry Association of Ho Chi Minh City (HAWA) Huynh Van Hanh.
The export of Vietnam’s wood products in 2015 is likely to grow by 15 percent from this year, said Huynh The Hanh, Vice Chairman of the Handicraft and Wood Industry Association of Ho Chi Minh City.
The Ministry of Agriculture and Rural Development (MARD) has petitioned the State to increase export tariffs on woodchips from 0 percent to 5-10 percent, in a move to limit woodchip exports.
The European Union (EU), which makes up about one fourth of the world consumption, is now the fourth largest importer of Vietnam’s timber and wood products after US, Japan and China.
The event aimed to update businesses on new regulations and compliance requirements regarding US tax, trade, and customs policies, while offering practical solutions to facilitate exports amid shifting trade dynamics.
The festival marks a significant milestone in promoting the brand, value, and legacy of traditional fish sauce - a product deeply rooted in the island’s identity and history spanning over 200 years.
According to Mastercard data, Vietnam has recorded a remarkable 92% compound annual growth rate (CAGR) in contactless transaction volume from Q4 2022 to Q4 2024.
Tuan expressed his confidence that LH, with its expertise and experience, would swiftly implement the urban area project, contributing to a modern urban landscape for the province.
With its strategic location, abundant workforce, and modern infrastructure, Vietnam holds significant potential to become a leading centre for power and electronics production in the region and the world.
The renewable energy workforce training and development centre, invested by Germany's GEO Group, is expected to be a cornerstone in shaping Binh Dinh as a renewable energy and innovation hub in central Vietnam, meeting the growing demand for skilled technical personnel in offshore wind, solar farms, and green hydrogen projects.
A notable trend is the shift toward satellite regions. With land scarcity and soaring prices in Ho Chi Minh City and Hanoi, investors are eyeing provinces like Hung Yen, Bac Ninh, and Hai Phong, which are benefiting from improved technical infrastructure and transport connectivity.
To further strengthen private-sector innovation, Bac Ninh plans to accelerate administrative reforms, build a digital, service-oriented government, and develop an integrated innovation ecosystem that connects businesses with domestic and international institutions, universities, and experts.
The participation of H&M, one of the world's largest fashion corporations, in Vietnam International Sourcing 2025 in Ho Chi Minh City in early September is considered a special highlight, opening up many cooperation opportunities for Vietnamese businesses in the fashion, textiles and sustainable supply chains.
This latest order builds on a previous agreement signed at the Singapore Airshow last year for 40 engines, bringing the total number of Trent 7000 engines ordered by the airline to 80.
Minister of Industry and Trade Nguyen Hong Dien acknowledged that despite concerted efforts by ministries and local authorities in combating fake and substandard goods, the situation remains highly complicated, attributing the persistent challenges to high profits luring numerous participants, increasingly sophisticated violations, limited resources within enforcement agencies.
The group also placed among the Top 5 energy companies in Southeast Asia and secured the top spot among the largest Vietnamese enterprises featured on the list.
The zone will cover 1,881 ha, comprising functional areas for production, logistics, trade and services, digital technology industry, information technology, and innovation.
Dung underlined several key objectives, including a comprehensive review of the legal framework governing SOEs, and called for updates that reflect international standards and support modern, transparent governance.
While the US market has become more difficult to access due to new tax policies, Australia could play the role of a trade cushion, helping to reduce shocks and maintain export momentum for Vietnam's shrimp industry.
Illustration photo. (Photo: VNA)
