National
Vietnam struggles to re-brand its furniture industry
24 Jun. 2016 | 15:56 | (83 Viewer ) | 
Traditionally, consumers around the globe made the decision to purchase furniture based on the price, style and reputation of the retailer from whom the purchase was made, said Nguyen Ton Quyen, chairman of Viforest.
This resulted in poor brand awareness by consumers, said Mr Quyen, but even more importantly it gave rise to a lackadaisical attitude among local manufacturers for developing their brands.
Over the past decade, manufacturers in markets such as the US, EU, China, Canada, Taiwan, Mexico, and Italy have rapidly been establishing their own dedicated retail outlets and showrooms worldwide.
In addition, every major manufacturer in the aforementioned markets now has a web site dedicated exclusively to marketing and brand building, said Mr Quyen, — and they have proven quite effective.
Most of these manufacturers have no intention of selling direct to consumers via the Internet but have learned to use the Internet effectively to gain large-scale visibility that is impossible to obtain in traditional brick and mortar stores.
This lack of brand development has severely handicapped local manufacturers when it comes to competing with the foreign rivals in the industry who have established household names the likes of UMA or IKEA.
Vo Van Quyen from the Ministry of Industry and Trade agrees with Mr Quyen.
Local manufacturers have also neglected the domestic market and wasted too much time trying to make inroads into China and other foreign markets, said Mr Quyen, adding that the outward approach has been unsuccessful for the most part because of their low brand recognition.
“The failure to develop strong brand name recognition in the domestic market has created a huge opening for the foreign competition who are swarming onto the market as a result of the ASEAN Economic Community (AEC) formation,” said Mr Quyen.
The AEC is going to bring about an even greater influx of less expensive imports making products such as those from Swedish home furnishing giant IKEA much more competitive and most likely allow for them to corner the domestic market.
The household furniture industry in Vietnam consists primarily of producing wood and wood veneer sofas; dining tables; convertible beds; along with television, radio, phonograph, and sewing machine cabinets.
Furniture manufacturers from China, Canada, Taiwan, Mexico, and Italy have dominated the global furniture market for the past several decades, accounting for in upwards of 75% of the market.
National
National News Bureau Of Thailand
A former vice premier of the People’s Republic of China and his entourage on Tuesday signed a book to express his condolences on the passing of HM the late King at the Grand Palace. Another important person who paid respects to HM the late King is President of the Asian Infrastructure Investment Bank Jin Liqun. The president laid a wreath before the body of HM the late King and signed the condolence book.
Meanwhile, people from many provinces continuously traveled to the Grand Palace to pay respects before the body of HM the late King. HM King Maha Vajiralongkorn sponsored ancient Thai desserts to be given to the mourners.
National
National News Bureau Of Thailand
Addressing the press Wednesday, Deputy Education Minister M.L. Panadda Disakul said Thailand’s top production companies and China International Broadcasting Network have struck a deal to produce a TV series that features the teachings of His Majesty King Rama IX.
M.L. Panadda, who presided over the signing ceremony, said the program is aimed at inspiring the public to be more productive and successful through the promotion of favorite recreation activities of His Majesty.
The series will be aired in Thailand and China, said the Deputy Minister, remarking that it would play a vital role in promoting Thai culture abroad.
The Deputy Education Minister also disclosed that the love and respect for the revered monarch remain strong among Thai citizens and would be so for many years to come.
National
Nakhon Sawan holds exhibition “Still on my mind” commemorating King Bhumibol
The exhibition, taking place in front of Nakhon Sawan Municipality, features a model of a royal rainmaking aircraft and the Chai Pattana water turbine, both being outstanding projects undertaken by His Majesty for the benefit of the people of Thailand.
Also on display at the exhibition is a Chinese puppet lion traditionally used in the funeral ceremonies of respected elders and teachers. The puppet lion is the only piece of its kind in Thailand and will be included in the royal cremation ceremony for King Bhumibol. It will also be burned at the end of the ceremony.
In addition, the venue features an exhibition of 89 photographs telling the story of the lives of Nakhon Sawan residents and their personal impressions of King Bhumibol Adulyadej. The exhibition in front of Nakhon Sawan Municipality continues until February 1st; there is no charge for entry.
Meanwhile at Somdet Phra Srinakarindra Park in Roi Et Province, Governor Sarit Witoon along with the local Red Cross Society, government officials, and the general public took part in a merit-making ceremony, giving alms to 200 monks from Wat Pa Kung, in dedication to King Bhumibol. Monks at the ceremony also gave special talks for the purpose of acknowledging the generosity of those in attendance and to lift their spirits.
- China Implements New Policies to Boost Foreign Investment in Science and Technology Companies
- Q1 2024 Brief on Transfer Pricing in Asia
- New Report from Dezan Shira & Associates: China Takes the Lead in Emerging Asia Manufacturing Index 2024
- Is journalist Vicky Xu preparing to return to China?
- Guide for Foreign Residents: Obtaining a Certificate of No Criminal Record in China
- China Unveils Plan to Upgrade Industrial Equipment
