The opening of the Vietnam Interior and Build Expo in HCM City on October 2. — Photo courtesy of sggp.org.vn

HCM CITY — The first Vietnam Interior and Build Expo (VIBE 2024 opened in HCM City on October 2.

Nguyễn Quốc Khanh, head of the organising committee, noted at the opening ceremony that VIBE 2024 focuses on three criteria, style, smart and sustainability, and has 500 booths set up by nearly 150 leading players in the interior, architecture and construction sectors, including Nippon, Takara Standard, Vicostone, Phúc Mỹ Gia, Nhà Xinh, and Bo Concept.

It is a large-scale platform aimed at spreading value and creating business opportunities with three core missions: providing information and trends, expanding the ecosystem of the interior and construction sectors, and finally promoting business opportunities for domestic enterprises with a focus on export orientation.

“The B2D2C (Business to Designer to Consumers) exhibition model is a distinctive feature of VIBE, focusing on designers, architects and investors as important bridges for suppliers to deliver quality products and services that cater to the diverse tastes and high aesthetics of Vietnamese consumers.”

Bùi Quang Hưng, deputy director of the Vietnam Trade Promotion Agency, said with its population of approximately 100 million and rapid urbanization, Việt Nam sees around 70-80 million square meters of new housing built annually.

“The demand for interior products in the domestic market has grown steadily, especially in categories like living room sofas, dining tables and chairs, which have experienced substantial growth in recent years.

“Products for hotels, office buildings and rental spaces have also shown an upward trend from previous years.”

A booth at the Vietnam Interior and Build Expo that is being held at the Saigon Exhibition and Convention Centre until October 5. — VNS Photo

Hưng quoted the Centre for Industrial Studies as saying that, between 2003 and 2023, Việt Nam rose from being the 13th to sixth largest furniture manufacturer globally in terms of market value.

In the first eight months of the year Việt Nam’s wood and wood products exports topped US$10.24 billion, a 20.6 per cent increase year-on-year.

The construction sector has also shown significant growth compared to 2023, Hưng said.

“Despite the increasing scale of production and the growing demand in the domestic market, many Vietnamese interior businesses remain focused on exports, while local need has not yet been fully met. Imported high-end interior products from European countries still dominate the Vietnamese market though Việt Nam is one of the world's largest wood exporters.”

He praised the expo saying “It will be an effective annual trade promotion event, offering businesses opportunities to showcase new products and technologies while enhancing cooperation and business connections that will boost domestic consumption of locally produced interior products and building materials.”

Organised by the Handicraft and Wood Industry Association of HCM City (HAWA) in collaboration with the Saigon Construction and Building Material Association (SACA), the expo also includes forums, seminars, trade connection activities, and interactive creative workshops.

To provide dynamic and productive cooperation opportunities for participants, the organising committee has reached out to over 7,000 architects and interior designers from architectural firms, studios, and associations, and over 15,000 CEOs and business leaders in the HAWA and SACA and their partner associations, along with investors and contractors from a database containing over 7,500 real estate and resort projects provided by BCI Central.

The expo at the Saigon Exhibition and Convention Centre will run until October 5. — VNS