25,December 2019

FOUR CHALLENGES FOR VIETNAM WOOD INDUSTRY

On 23 December 2019, at a dialogue with enterprises in Hanoi, Prime Misnister Nguyen Xuan Phuc spent the whole morning discussing with Vietnamese businesses about strong and sustainable development. This is a good chance for businesses to voice their ideas about challenges and propose solutions to help businesses increase resilience and competitiveness.

At the dialogue, PM Nguyen Xuan Phuc stated that businesses are the core value of economic development. “We shall not have a great country without great businesses, shall not have a great economy without great brands, and shall not have great businesses without great people”. In 2019, Vietnam’s foreign trade exceeded 500 billion USD, which is the record high, the Wood industry contributed an excellent outcome of 11 billion USD in export value.

At the event, Mr Nguyen Quoc Khanh, Chairman of AA Corporation presented to the Government four challenges in the wood industry. First of all, Vietnam needs to find a way to increase value for domestic timber, to help grow more forests for long-term investment. Secondly, there should be training programs for workers in the wood industry in order to increase skills, resilience as well as discipline. Thirdly, each business needs to pay more attention to design, branding, networking in order to increase value of their products. They need to have a clear vision for the long-term future of their companies. Lastly, the wood industry would like to collaborate with other industry in order to increase versatility in materials – team work increases value for everyone. 
 

Mr Nguyen Quoc Khanh suggested that the Government should build a national convention for wood product exhibition, and form the Vietnamese association of Wood and Interior, therefor businesses can connect to each other better, learn and support each other better. 

At the event, AA Corporation exhibited a set of working desk and working chair made of Vietnamese materials: keo lai timber, keo lai veneer and domestic leather. These products were designed by Mr Nguyen Quoc Khanh, hand picked materials carefully and received many praises from the Prime Minister as well as everyone attending the dialogue. This set of luxury furniture presented that domestic materials can be used to make high-end products with half the price compares to imported materials. A great design, a skillful craftmanship, use local material are the foundation to help businesses achieve breakthrough development in the future. 

Prime Minister Nguyen Xuan Phuc spoke at the convention
Mr Nguyen Quoc Khanh spoke at the event
Prime Minister Nguyen Xuan Phuc walking through the exhibition hall
Prime Minister Nguyen Xuan Phuc and Deputy PMs visiting AA Corporation’s booth

Source: Investment online – Forum for Investment and Business 

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