Vietnam’s wood firms should apply technologies to increase competitiveness Chairman of the Handicrafts and Wood Industry Association of Ho Chi Minh City (HAWA) Nguyen Quoc Khanh said Vietnam’s wood processing firms should apply technologies and take heed to production models to increase competitiveness. Advancement of CNC precision technology plus new technologies such as artificial intelligence, big data, cloud computing, and robots have helped woodworking technologies to make progresses. Vietnam is approaching to be a major furniture supplier in the world in this time when many US importers are shifting China orders to many countries including the Southeast Asian. However, the wood processing industry has faced challenges when more foreign investment capital has poured in the country. From the early this year, forestry industry showed a strong increase in export value from the beginning of the year. Overseas shipment of forestry product exports in first nine month reached US$7.9 billion, a year-on-year growth of 18.1 percent, accounting for 26.4 percent of total agro-forestry and seafood export. Export turnover of the whole year is estimated to reach $11 billion increasing $1.7 billion compared to last year. With average growth of 13 percent from 2010, the industry has stable development with export value… Read full this story
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