VIFA Home 2014 attracts 115 local and foreign firms involved in wood processing, interior decoration and consulting. — File Photo

HCM CITY (Biz  Hub) – The annual Viet Nam Furniture and Home Furnishing Fair, to be held in HCM City next week, aims to promote locally made furniture, home decor, and handicraft products in the domestic market.

Huynh Van Hanh, the Handicraft and Wood Industry Association of HCM City (Hawa)'s standing vice chairman, said VIFA Home 2014 has attracted 115 local and foreign firms involved in wood processing, interior decoration, and consulting, an increase of 20 per cent from last year.

On display will be outdoor and indoor furniture, handicrafts and home decor, household appliances, garden decor, support services, gifts, souvenirs, handicraft items, and materials for the wood processing industry.

With the Vietnamese housing market yet to recover, the furniture and home decor industry faces difficulties, and their domestic sales is expected to only increase marginally from last year's $1.9 billion, Hanh said.

From next year, when the ASEAN Economic Community comes into effect, local producers would face fierce competition even in the domestic market, he said.

To remain competitive, firms need to map out long-term business strategies and improve product quality and customer service among other measures, he said.

The fair would offer them a good chance to study consumer tastes and expand their distribution network in the domestic market, he said.

Exports of wood and wood products were worth $4.44 billion in the first nine months of the year, and are expected to top $6.5 billion this year, he said.

VIFA Home 2014, organised by Hawa, will be held at the Tan Binh Exhibition and Convention Centre from November 6 to 9. — VNS