Local wood industry should focus on design and branding The wood industry needs to focus on developing design, branding and distribution to achieve the goal of US$20 billion in export value by 2025, according to experts. Vietnamese wood processing enterprises have so far not invested in human resources for product research and design, the experts said. Therefore, the designs of wooden products are often monotonous, so their value is low. Exported wooden products have been processed under contracts with foreign partners, so the products have low value and competitiveness on the global market. Few companies have their own designs and brands to sell directly to customers. The issue of branding has become an obstacle for local enterprises to increase exports, while free trade agreements signed between Vietnam and foreign partners open more export markets for local products, such as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). Local products without their own brands have lower competitiveness on the world market. Nguyen Chanh Phuong, deputy chairman of the Handicrafts and Wood Industry Association of HCM City (HAWA), said the furniture demand on the global market has shown signs of slowing down, consumer trends have changed and productivity has continued to be… Read full this story
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