SBIO.docx - SBIO\/FOR 2784 Group 9 Full Fall Research Project Outline Vietnam A look at the Uses of the Raw Material Bamboo and the Wood Furniture

SBIO.docx - SBIO/FOR 2784 Group 9 Full Fall Research...

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SBIO/FOR 2784 Group 9 Full Fall Research Project Outline Vietnam: A look at the Uses of the Raw Material Bamboo and the Wood Furniture Industry Submitted by: Emily Rutkowski _______________ Jack Tappert _______________ Jiaqi Zhang _______________ Submission Date: November 10, 2015 A. Abstract – Vietnam is an up and coming South East Asian economy that is predicted to skyrocket over the next few years. This rapid development can partly be attributed to its booming furniture industry as well as its ideal climate for growing wood alternatives such as bamboo. To fully understand and assess an accurate projection for Vietnam’s economic growth, these two factors must be explored further. Exploring the significance of wood alternatives, through a focused report on bamboo, and analyzing trends in the explosive furniture industry were the focus of our work. We concluded that the growth in popularity of Bamboo has led to falling public ownership of the product in favor of private ownership. This is promising news for the Vietnamese economy because increased private ownership allows for greater industrial potential. We also found that Vietnam’s furniture industry’s massive growth is greatly attributed to foreign investment. As Vietnam opened their doors to foreign money, their labor pool was better utilized and several industries took off, including the furniture industry. Foreign investment has not just had a positive impact. Foreign trade deals threaten Vietnamese domestic markets by overwhelming the marketplace with cheaper mass produced foreign goods. Although Vietnam has growing industries that rely on wood and wood substitute products (such as bamboo), the local government has set plans for growth in forest coverage, and has currently maintained recent forest coverage despite the growing demand(Chaowana,2013). B. Introduction We will report the economic standing of Vietnam. The raw material of interest will be bamboo, its versatility and growing popularity will be reviewed.
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Vietnam’s wood furniture industry success and adaptations will be reviewed. To concluded we will recognize connections seen between our main points. C. Body a. Main point : The Economy in Vietnam----Candice Since 1986, Vietnam has gradually shifted from a centrally planned economy into a socialist-oriented market economy. The share of agriculture including forestry and fisheries to GDP was, for example, reduced strongly from 24.53% in 2000 to 20.89% in 2005. In contrast, the portion of industry and construction increased considerably from 36.73% to 41.03%. Vietnam as a developed country, exported $1.56 billion worth in wood products to the United States, a 41.2 percent increase by 2004 who then well exceeded the targeted export level of $ 1.2 billion in 2010. In the first 9 months of 2006, export turnover of furniture industry steadily increased reaching a USD value of 1.35 billion; exhibiting a growth of 21% compared to the previous years market period. The profit of exporting wood furniture can sustain Vietnam as well as promote development of their industry through expansion.
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