Furniture industry roadmap readied

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FURNITURE industry players have developed a market-driven roadmap crucial for achieving a 10 to 15-percent growth this year.

“We just presented the furniture industry roadmap to BOI (Board of Investments). We are just waiting for a schedule with (Department of Trade and Industry) Secretary (Gregory) Domingo to present the roadmap,” said Salvio Valenzuela, executive director of the Chamber of Furniture Industries of the Philippines (CFIP).

Valenzuela said the roadmap outlines ways to increase the industry revenues from both the local and international markets and likewise improve the technical capabilities of the entire supply chain.

He said the market-driven program has three components — global, “glocal” and local.

In going global, furniture makers intend to focus on Brazil, Russia, India, China and South Africa (BRICS) market while continue serving the traditional United States and European markets.

“Going glocal means we treat the international market as local market. With FTA (free trade agreement) and because of logistics, three hours away by plane and one week away by boat for shipment of goods, Asean is one of the emerging markets we focus,” he added.

Valenzuela said they see bright prospects in the Asean market considering that even China is buying Philippine furniture.

The domestic consumer market also offers huge business opportunities.

“Saturate first the domestic market before you go export,” he said.

Valenzuela added that also part of the industry roadmap is the technical capability program that focuses on improving the entire supply chain.

He said industry players are seeking government support to implement the roadmap.

“This is a PPP (public-private partnership); we need the government to collaborate with us in this program. We are eyeing at least 10 to 15-percent growth for this year if this roadmap is approved. (The growth’s attainment is) dependent on the implementation of the program,” he further said. (PR)

Published in the Sun.Star Cagayan de Oro newspaper on April 05, 2012.

Article Source : www.sunstar.com.ph