While tourism, transportation and F&B sectors are suffering heavily from Covid-19, the impact on other business fields has been less severe.

According to a market research by Forest Trend, in the first five months of this year, the number of new FDI projects in wood industry totaled 49 projects, of which there were 32 projects belonging to wood processing field.

Stable economic growth and the strong rise of the middle class in the country are helping to attract many world-famous brands.

Many Vietnam-made products, after being exported to other countries, have been re-imported to Vietnam and sold at prices much higher than the initial prices.

VietNamNet Bridge - The Vietnamese furniture market is a promising industry, estimated to have value of over $4 billion, according to the Handicraft and Wood Industry Association of HCM City (Hawa). 

VietNamNet Bridge - With stable growth rate of 8 percent per year in the last few years, the domestic wooden furniture market is a magnet for foreign brands.

VietNamNet Bridge - 2017 is the first year Vietnam gained a 2-digit growth rate in wooden furniture exports thanks to heavy investment in technology and design.

VietNamNet Bridge - The massive Chinese investment in Vietnam’s wooden furniture manufacturing may put Vietnam at a high risk of anti-dumping lawsuits.

The domestic sector has lost the local and export forestry markets to the foreign sector, Huynh Van Hanh, general director of the Handicraft and Wood Industry Association of Ho Chi Minh City has said.

 VietNamNet Bridge – Truong Quy Nghia of Lavanto Home Decor won the first and third prize of The Gift and Home Accessories Design Competition or the 2015 Lotus Award with his artwork Sai Gon Trong Toi and Mot Thoang Sai Gon.

 VietNamNet Bridge – From March 3, wood makers will have to explain the origins of their products in order to export to the European Union (EU) market, but many enterprises are still not aware of this requirement.