BIFA Wood Vietnam back for its second edition
Published on : Friday, March 20, 2020
The most awaited BIFA Wood Vietnam is all set to stage the second edition in October 2020. The event is a joint attempt by two of the most influential brands in Southeast Asia’s timber and woodworking sector: Binh Duong Furniture Association (BIFA) and one of the wood magazines from South East Asia. BIFA Wood Vietnam 2020 brings the best of the industry.
BIFA represents the wood processing industry in Binh Duong province. It supports members with market development, products, raw materials and technology. It also works with the government to influence policies favourable for business. Vietnam is increasingly recognised as the country to be for wood processing. In 2019, the export value of wood and wood products was $2.7 billion, a 32,8% increase compared to 2019. And for 2020, the country aims to hit US$12.5 billion in export value of forest products, a 10% increase compared to 2019. With high taxes from the Chinese market, Vietnam has become the place to be to meet the demands for wood products. The country has also implemented a series of free trade agreements (FTAs) such as the Comprehensive and Progressive Trans-Pacific Partnership; EU-Vietnam; Vietnam-ASEAN; Vietnam – Japan; Vietnam – Chile;Vietnam – Korea; Vietnam-China; and Vietnam-Thailand. With the implementation,import tax in the agreement are set to be reduced or eliminated, providing a competitive edge for the country.
Binh Duong, known as the capital for wood exporting in Vietnam, is at the centre of all activities. Binh Duong has the favourable business and investment environment. In fact, about 60% of Vietnam’s furniture and woodworking factories are located within 40km radius around Binh Duong, as well as Long An and Dong Nai provinces, and Ho Chi Minh city. BIFA WOOD VIETNAM 2018 experienced a overwhelming response in its inaugural edition. About 183 exhibitors and 740 booths spread across a massive hall of 14,500 square metres. The show also witnessed participation of about 4,200 visitors seeking the latest technologies and products in the furniture manufacturing and woodworking sector.
Several visitors have even mentioned and appreciated the selection of the show location, that has been selected especially for its close proximity to the factories and for the convenience of factory managers. “BIFA WOOD VIETNAM fair is really important event; timely to advertise, promote trade and investment of the wood industry, not only in 2018 but also in the following years,” said Ha Cong Tuan, deputy minister of Ministry of Agriculture and Rural Development (Vietnam).“The fair will not only create opportunities for enterprises to meet, exchange information and seek business cooperation, but also for the vertical linkages in the industry: From suppliers of raw materials and accessories; machinery and technology providers to manufacturers and traders. It provides an opportunity for businesses to develop together sustainably,” he added. BIFA Wood Vietnam will run from 27th to 30th October, 2020 at the Binh Duong Convention & Exhibition Centre (open ground) at Duong Hung Vuong, Hoa Phu Ward,Thu Dat Mot City, Binh Duong Province, Vietnam.