Foreign woodwork makers tap Vietnam market

Foreign companies have being supplying up to 80% of woodworks in Vietnam market, said Nguyen Chien Thang, chairman of Ho Chi Minh Association for Handicraft and Wood Industry (HAWA).

The chairman said majority of woodworks in domestic market are sourced from Asian countries such as Malaysia, China, Taiwan, Hong Kong and Thailand.

Vietnamese woodwork makers have prioritized exports without recognizing that domestic sales reached up to $3 billion yearly, said the chairman.

Between Jan and July, Vietnam exported $1.792 billion worth of timber and woodworks, while importing $605 million worth of the products, up 33.5% and 28.5% on-year, respectively.

The country’s major importers included the U.S., EU and Japan.

The country expected to raise its total woodwork export revenues to $4.5 billion by the end-2010.

Tags: Vietnam woodwork market