More Australian and European customers now import furniture from Vietnam, where modern furniture techniques are being used. Vietnam’s growing economic importance as a regional economic power has triggered a surge of interest in Australia’s Vietnam furniture industry. Indeed, the growth spurt in Vietnam’s GDP last year was enough to trigger Australia’s rapid rise in exports. When you consider the state of the country’s infrastructure, its people, and its raw materials-not to mention its expansive array of furniture manufacturing capabilities-you can see why Vietnam furniture business is becoming so important for Vietnam’s economy.
So, what are some of the factors that have made Vietnam furniture supplier’s one of the most sought after global retailers?
Perhaps one of the main reasons why Australia’s Vietnam furniture manufacturers are enjoying such good business is because of the tremendous opportunity presented by the country’s vast stretches of coastline. The extensive transportation infrastructure, including container ships and airplanes, allows Vietnam’s commercial furniture makers to reach out to more potential customers across the world. The Asian nation’s ports and harbors are home to many of the world’s most important shipping choke points, allowing manufacturers to service commercial warehouses and manufacturing centers from multiple countries. This means that there are plenty of places where Vietnam’s goods can be delivered into the hands of customers in different parts of the world. This can only mean good business for Vietnam furniture manufacturers, particularly given the fact that Australia is currently one of its primary trading partners. If look at the financial statistics, Vietnam’s per capita income is also increasing at a steady rate, further boosting Australia’s competitive advantage.
In addition to the great opportunity presented by the country’s vast coastline, another contributing factor to the growth of Vietnam furniture manufacturers has been the liberalization policies implemented by the Vietnamese government. Since the Vietnam economy relies on foreign trade, it has long prided itself on preserving ties with the countries that are most important to it. Now, both Australia and Canada are witnessing a rise in their exports to Vietnam because of these policies. These developments are gradually improving Vietnam’s poor economic situation, giving furniture manufacturers more opportunities to earn larger profits. With more foreign companies looking to Vietnam for its raw materials, the country’s ability to diversify its sources of income should only grow in the years to come.