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BUSINESS REPORT

Out to the world

Ranked the world’s sixth-largest furniture producer in 2023, Vietnam is
well placed to successfully tap growing export opportunities in 2024.

By LUU HA

ood and wooden products was “As a result, apart from traditional
Growth recovery
the only export item in the agri- Southern Dong Nai and Binh Duong markets like the US, Europe, Japan, and
W culture, forestry, and fisheries provinces and Ho Chi Minh City - localities South Korea, the fair also welcomed par-
sector to post export revenue in excess of with the largest wood and wooden product ticipants from new markets of potential
$1 billion in the opening month of 2024, export volumes in Vietnam - co-hosted the such as Australia and the Middle East,”
with $1.5 billion. Export value then reached Ho Chi Minh City Export Furniture Fair said Mr. Nguyen Vo Nam Viet, Business
$2.4 billion in the first two months, for a 2024 (HawaExpo 2024) from March 7-9. Manager at An Viet Thinh Furniture.
year-on-year increase of nearly 44 per cent. There were two international trade fairs The majority of furniture companies
This was a positive result compared to on wood processing and furniture held in report orders through April and some
2023, when export turnover stood at $14.3 the southern city within a month of the even through September. “We have an
billion for the year as a whole, down 15.8 Lunar New Year (Tet) holiday. Earlier, the order to export 600 prefabricated houses
per cent against 2022 and short of the 15th Vietnam International Furniture and to Hawaii,” revealed Mr. Vo Xuan Thuyen,
annual target of $17.5 billion. Home Accessories Fair (VIFA EXPO 2024) Managing Director of Tran Duc Homes.
The wood industry reset its target for took place from February 26-29. The company’s factory, in southern Binh
2024, with businesses more optimistic After six months of overseas promo- Duong province, has received orders
about exports, particularly to the US, tions, HawaExpo 2024 received extensive through June this year.
which accounts for more than 50 per cent media coverage in over 15,000 news “The US and Canada are markets of
of its annual export turnover. items in 20 languages. potential,” he said. “There is huge demand

36 Vietnam Economic Times April 15, 2024 en.vneconomy.vn