More than 70 Vietnamese and 120 foreign firms are showcasing advanced wood-processing technology, machinery and raw materials at the Viet Nam BIFA Wood 2018 exhibition which opened on Wednesday in Binh Duong Province.
Organised by the Binh Duong Furniture Association (BIFA) in cooperation with PANEL & FURNITURE’s group of wood magazines (Singapore), the four-day trade show is expected to attract 4,000 visitors.
Attending the event are wood-processing machine manufacturers from Italy, Germany, Denmark, South Korea, Japan and China, as well as wood material suppliers from the US, Canada, Europe, Australia and New Zealand.
This year’s trade show features 780 booths, double the number at the previous event, on an area of over 15,000 square metres.
The biennial trade show is expected to unlock possibilities for local and foreign companies looking to tap into Viet Nam’s potential.
Binh Duong is considered the capital of the national wood industry, Tran Thanh Liem, chairman of the provincial People’s Committee, said at the opening ceremony.
With its plentiful labour force and dynamic businesspeople, connected to key timber areas in the Southeast and Central Highlands, Binh Duong has a favourable business and investment environment.
The province, which has attracted many wood processing enterprises, has an annual growth rate of 12.6 per cent in recent years.
The province’s export turnover was more than $4 billion last year, which accounted for more than half of Viet Nam’s total.
Visitors and company respresentatives network at the Viet Nam BIFA Wood 2018 exhibition. — VNS Photo Bo Xuan Hiep
The Binh Dinh Wood and Forest Association (Binh Dinh FPA), Dong Nai Wood and Handicrafts Association (Dowooha), and HCM City Handicrafts and Wood Industry Association (HAWA) are also taking part in the event.
Seminars on automation technology in the wood industry, and raw materials from the US and Europe will be held during the trade show.
Visitors will also have a chance to visit the most modern wood factories in the province.
Viet Nam is one of the world’s leading wood processing and exporting countries, with an export turnover of $8 billion last year, a 10 per cent growth from the previous year.
Turnover is expected to increase to $20 - 25 billion over the next decade.
The country’s phenomenal growth in the last decade has made it a serious contender to overtake China as the world’s manufacturing powerhouse.
The number of wood enterprises has grown from 2,500 in 2008 to 4,500 today, including 3,900 Vietnamese firms and 600 foreign-funded investment enterprises, according to BIFA.
Of these enterprises, 1,500 are both processing and exporting their products to overseas markets.
These wood enterprises have begun to invest in advanced equipment to modernise production lines and produce complex products, according to BIFA.
Speaking at a recent meeting on sustainable development, Prime Minister Nguyen Xuan Phuc urged the sector to use cutting-edge technologies in forest planting and wood processing, while driving growth in the sector and leveraging international trade agreements Viet Nam has signed with other nations.
High-quality raw wood should be legally sourced, said the PM, adding that the industry should shift from extensive to intensive forestry practices by using hi-tech and high-yield plant varieties.
Established in 2009, BIFA, which represents the wood processing industry in Binh Duong, supports its members with market development, products, raw materials and technology.
It also works with the government and other organisations to influence policies favourable for business. — VNS