Tensions in East Sea prompt Vietnamese shift to other kinds of undertaking
Tensions in East Sea prompt Vietnamese shift to other kinds of undertaking
Many Vietnamese traders, seeing a plunge in demand for Chinese products, have decided to stop importing goods from China for domestic sale. This trend has been accelerated with the ongoing dispute in the East Sea.
Vu Xuan Nam, Director of the 3D Decoration Company in Hoang Mai District in Hanoi, said on Mot The Gioi that he is considering importing wooden furniture products from other sources rather than China. Nam has been trading Chinese products for the last two years and the business has been going smoothly. “We have not met any difficulties so far in doing business with Chinese. However, I am still considering importing goods from other countries – South Korea, for instance,” Nam said.
“In the past, Chinese products were favored because of their low prices. However, consumers nowadays prefer high quality products, even if they are more expensive,” Nam explained.“Therefore, I think now is the right time to look for other suppliers.”
Hoang Truong Giang from Tin Viet Company in Hanoi, a distributor of Chinese tile products in the home market, also said that the company is considering cutting down on imports from China.“Sales of Chinese products have been going very slowly these days. Therefore, we have had to cut down on the import volumes,” Giang said. “We may have to trade other products in the near future”.
Vu Thi Thu, Director of the ThoiTrang Q.T Company in Hanoi, said she has stopped importing fashion products from China.“We have placed orders with a Thai supplier and the first batch of goods from Thailand is arriving,” Thu explained. “We have three shops in Hanoi, which specialized in selling clothes imported from Guang Zhou, China. However, I have decided to sell Thai products instead because of the tensions in the East Sea.”
“In fact, I had been planning to sell Thai clothes instead of Chinese for a long time, because Chinese clothes are not favored by medium and high income earners in Vietnam due to their low quality. The tensions in the East Sea have given me a push to step up the plan,” she continued.
Travel firms have reported the sharp drops in the numbers of travelers these days due to cancelations of tours to China.
According to Thuy Hien from Sen Vang Trade and Service Company in Hanoi, the number of travelers asking for information about tours to China has dropped by 50 percent, while 20-30 percent of travelers have canceled their tours.
Viettimes Travel in Hanoi has also noted that only 2-3 travelers per day now comeseeking information about tours to China. That number was 10-20 a few months ago.
Le Hoang Chau, Chair of the HCM City Real Estate Association, when asked to comment about the effects of tensions in the East Sea on the business, said Vietnamese consumers nowadays are tending to use Vietnamese goods or non-Chinese imports as a manifestation of their patriotism.
Therefore, he believes that this is a great opportunity for Vietnamese businesses to retake the home market, provided that they can make products that satisfy consumers’ needs.
vietnamnet
