Africa Sunrise Investments, promoter of the largest annual furniture exhibition event in Angola, lifted the veil on the 4th edition of the “City of China” Furniture Fair, which kicked off on the 16th of November and will run until the December 16th
This edition has more than 30 exhibitors displaying diverse and different products from the furniture sector in appropriate spaces, aiming to show the potential and capacity of national production of articles made with wood crafted in Angola, a factor that has already limited the import of furniture in recent years.
On the occasion, there was the presence of institutional and private sector figures who attended the ceremony, in the company of tycoon Jack Huang, chairman (PCA, in its acronym in Portuguese) of Africa Sunrise Investments. Regarding prices, it is worth mentioning that furniture can be found at 20% lower than the price charged daily on the market, which may favor those interested in purchasing the products on display, as, according to chairman Jack Huang, the measure must to do with the adverse economic context that led to the definition of prices for a reduction that was accessible to interested consumers.
Jack Huang also said that this edition is expected to achieve a turnover of over 1.5 billion kwanzas, in a space with business for companies participating in the exhibition.
Last September, Africa Sunrise announced that with this edition it expects that each exhibitor and furniture manufacturer will be able to generate revenues of up to 100 million kwanzas. The country has more than 70 factories that transform bulls into wood and, from this raw material, into furniture, an aggregate investment of 30 billion kwanzas, according to the national director of Rural Trade Development at the Ministry of Industry and Commerce.
Allan Varela, who represented the Ministry in question at the opening of the fair, highlighted that “there is already an appreciation of national production, taking as an example the exhibition at the Furniture Fair, as it is regarding the growth of the value chain, as no longer it exports bulls and there are almost no imports of furniture”, whilst highlighting that “Chinese investment is respectful and forms an important component of Angola’s industrialization process”.
To conclude, he stressed that “in this context, fairs are vital to take the economy to another level”. The chairman of the board of directors of the African Sunrise Investment Group, Huang Yuequan, pointed out that Chinese companies contribute to the development of Angola’s furniture manufacturing industry.
In the view of the general director of the City of China, Chinese businesspeople “not only generate more job opportunities but also lower the prices of furniture products in the country, increasing accessibility for a wider population”. “In an effort to revitalize the economy and accelerate Angola’s economic diversification, the involvement of experienced foreign investors is crucial. Therefore, it is worth examining China’s successful reform and opening-up experiences over the past 40 years,” said Huang Yuenquan.
The more than 30 exhibitors present to the interested public products such as furniture for home, offices, kitchens, residential exteriors and others, with a total of 600 types of furniture at affordable prices. More than 300 thousand visitors The African Sunrise Investments group planned to invest 5 billion kwanzas for the success of the 4th China City Furniture Fair, expecting to receive 300 thousand visitors, which is twice the number reached in the edition of 2020, a year marked by the Covid-19 pandemic.
The fair is attended by traditional commercial partners, as well as Chinese businesspeople, including renowned brands already recognized in the national furniture industry. On the occasion, Lara Chai, commercial manager of the African Sunrise Group, had highlighted the traditional presence and participation of financial institutions. The company Sonho da Casa has an exhibition in this edition and, during preparations, its general manager, Lu Zhiwen, said that the event always promotes a connection between consumers and manufacturers, who offer a verity of quality products.
