Italian wood, furniture businesses eye Vietnamese market

09:02 | 30/06/2018 Trade

(VEN) - Italian Trade Commission (ITA/ICE), Trade Promotion Section of the Italian Consulate General in Ho Chi Minh City, and Federlegno Arredo Eventi, the Italian Federation of wood, furniture and furnishing manufacturers, jointly organized the first trade mission to Vietnam to explore the potential market for furniture and interior design “made in Italy”. The event took place in Ho Chi Minh City from June 26-28.

At the event, Vietnamese real estate developers, architects, interior designers, importers, distributors and dealers had the chance to meet 7 renowned Italian manufacturing companies working in the following sectors: furniture, kitchens, lighting and artistic mosaic. Seven Italian representatives from Badari Lighting, Cantori, Diemme Cucine, Formitalia, Officina Luce, Sicis and Versace Home also joined the dedicated B2B working session on June 27.

The Italian trade mission had the opportunity to know the state- of- the- art of real estate industry and furniture trends in Vietnam. The delegation also met major Vietnamese property development corporations and visited a number of high-end residential projects as well as luxury furniture showroom in Ho Chi Minh City.

Mr. Paolo Lemma, Italian Trade Commissioner to Vietnam, said: “Updated data about Vietnam market shows that, over the last three years, import of furniture to Vietnam grew at an average rate of 33%. Italy ranks first among European Union countries exporting to Vietnam and the 3rd worldwide, covering almost 7% of Vietnamese market”.

The urbanization rate of Vietnam is 3.4% per year, the fastest in South East Asia. The quantity of residential building, hotels and resorts is increasing at an annual average rate of 20%, especially in Hanoi, Ho Chi Minh City and in the main tourist destination areas of the country. “The development of real estate in Vietnam is expected will continue having a large impact on high-end furniture demand”. “That’s why we have organized this trade mission as well as a series of other initiatives including visits to trade shows and business-to-business meetings in Italy”, added Paolo Lemma.

ITA is the government organization, which promotes the internationalization of the Italian companies, in line with the

strategies of the Ministry for Economic Development. ITA provides information, support and advice to Italian and

foreign companies. In addition to its Rome Headquarter, ITA operates worldwide from a large network of 79 offices in

65 countries, linked to Italian Embassies and Consulates and working closely with local authorities and businesses.

ITA has been in Vietnam for 27 years with the representative office in Ho Chi Minh City, covering all the country

market and organizing dozens of promotional activities every year to enhance the trade relationship between Vietnam

and Italy.

My Phung