HCMC – An Cuong Wood Working JSC on July 1 concluded a cooperation agreement with Sumitomo Forestry American, a subsidiary of Japan-based Sumitomo Forestry Group, to provide furniture for projects developed by Sumitomo Forestry America in the United States from 2022 onward.
The cooperation is expected to help An Cuong earn tens of millions of U.S. dollars per year.
Sumitomo Forestry America has invested billions of U.S. dollars in the U.S. market and owns many real estate and construction companies. It will launch thousands of housing products in the United States.
This will be a great opportunity for An Cuong to boost its business activities in the largest economy in the world.
An Cuong exports some US$20 million worth of products stateside per year.
With the cooperation with Sumitomo Forestry American, the company expects its export revenue generation from the U.S. market at US$30-50 million per year, said An Cuong Chairman Le Duc Nghia.