Mr. Nguyen Huu Thong – Director of Hoang Thong Wood Company: Unlocking Resources, Driving Investment
According to Mr. Nguyen Huu Thong, the key of the industry lies in uniting sustainability, quality, and competitiveness—enabling businesses to establish direct export channels and thrive in international markets. * Having entered the industry in 2014, what inspired you to choose wood as the foundation for your startup? – I graduated with a degree in […]
Transform and adapt
According to Statista, the global furniture market is expected to generate $1.354 billion in revenue by 2024, with an anticipated annual growth rate of 2.70%. Ranked sixth globally, Vietnam’s furniture industry is undergoing a rapid transformation as businesses within the ecosystem evolve to capitalize on new opportunities. Today’s consumers demand furniture that not only meets […]
The Wave of Bringing Factories Back to the United States
The emergence of manufacturing facilities in the U.S. is poised to reshape the supply chain of the world’s largest furniture market. SBA Home, a leading furniture manufacturer from Lithuania, has announced a $70 million investment to establish its first factory in the United States. The Investment Equation SBA Home, the largest division of SBA Grupe, […]
When American Businesses “Miss Home”
In the past, U.S. companies often outsourced manufacturing to countries like India, China, and Vietnam. However, this trend has recently reversed, with reshoring replacing offshore production. Similarly, regions like Hong Kong are now looking to the U.S. as a way to cut operating costs. Considering Reshoring During the early days of multinational corporations, moving production […]
From Traditional Business to Digital Platforms
The U.S. market is expected to remain a particularly important destination for Vietnam’s wood export industry. Amidst the unpredictable fluctuations of the global market, adopting a proactive mindset and transitioning from traditional business models to digital platforms is an effective solution for businesses to access and expand export markets. In recent years, Vietnam’s wood industry […]
MAGA and American Wood
MAGA has had a multifaceted impact on the American furniture manufacturing industry in various ways. Could the dedication of companies like Vaughan-Bassett help make America great again? Vaughan-Bassett, a high-end furniture brand established in 1919 and headquartered in Galax, Virginia, has adapted its operations to align with MAGA policy objectives. Vaughan-Bassett: Embracing “Made in America” […]
Optimizing Export Opportunities to the United States
According to statistics from the General Department of Vietnam Customs, Vietnam’s wood product exports to the U.S. reached $9.1 billion in 2024, marking a 24% increase compared to 2023. With the U.S. accounting for over 50% of Vietnam’s total furniture exports, it remains a high-potential market. However, given the current trade imbalance between the two […]
Connecting Resources Amid Global Turmoil
The “Resource Integration” model – a method combining technology, flexible supply chains, B2C (Business-to-Customer)/D2C (Direct-to-Consumer) strategies, and e-commerce – can help Vietnamese businesses optimize operations and adapt to evolving market dynamics. With the “America First” commitment, the second Trump administration has imposed an additional 20% import tariff on all goods from China. There is even […]
