Friday, August 18, 2017 - 8:29:08

Major investors eye Vietnam footwear industry

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The domestic leather and footwear industry is seeing positive signs in the market.

Several leading footwear manufacturers such as Nike, Adidas and Puma have given their orders to Vietnamese firms, instead of the manufacturers in China and Bangladesh.

Deputy Minister of Industry and Trade Do Thang Hai was quoted as saying by the online newspaper VnMedia.vn that most of the large local businesses in the sector have received orders from foreign countries for the first quarter of next year.

Hai said the well-known brands wanted to expand their operations in Vietnam to meet the increasing demand for their products and to reduce risks.

The sector should promote production and trade, and improve their products' competitiveness to satisfy the manufacturers' requirements, he said.

Vietnam is among the top ten global footwear exporters and is the second largest footwear exporter to the demanding market in the US.

Statistics from the ministry showed that in July, the footwear sector was stable as its output of leather shoes was estimated at 21.9 million pairs, representing a 10.4 percent increase in comparison with July 2013.

In the first seven months of this year, the sector's output was 150.4 million pairs, a 19.5 percent increase over the same period last year. Its export turnover posted a 22 percent year-on-year increase to touch 5.75 billion USD. The item has been one of the country's staple exports.

Estimates from the Vietnam Leather and Footwear Association (Lefaso) also revealed that the shift of production lines to the industry in the seven-month period was a 25 percent year-on-year increase.-VNA
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