Vietnam’s leather, footwear and handbags were lauded to be comparable to those made in China, Pakistan, India, Singapore, Indonesia and South Africa during an international fair held in Melbourne city, Victoria state of Australia from November 12 – 14.
A workshop was held in Hanoi on November 13 to discuss the enhancement of businesses’ engagement through promoting their integrity pledge, which is said to be useful to create a fair and transparent business climate in Vietnam.
It is necessary to carefully consider reducing labourers’ working hours from 48 to 44hours per week to ensure the interests of enterprises, said Phan Thi Thanh Xuan, Vice President and Secretary General of the Vietnam Leather, Footwear and Handbag Association.
Vietnam’s export turnover from footwear products and handbags reached nearly 14.5 billion USD in the first eight months of 2019, according to the Vietnam Leather, Footwear and Handbag Association (LEFASO).
The sudden depreciation of Chinese yuan against the US dollar brings more difficulties to Vietnam’s yarn industry, according to Vietnam Textile and Apparel Association (VITAS).
The southern province of Dong Nai earned more than 11 billion USD from exports in the first seven months of 2019, a year-on-year increase of 5.56 percent, according to the provincial Statistical Department.
Vietnam’s export turnover from leather products and footwear is estimated to hit 21.5 billion USD in 2019, a year-on-year rise of 10 percent, said the Vietnam Leather, Footwear and Handbag Association (LEFASO).
As leather – footwear is an export-oriented industry, vagaries in such markets as the US and the EU will have considerable impact on the purchasing power and export of these products.
Vietnam now exports 1 billion pairs of shoes per year and the nation is the second largest leather and footwear exporter in the world, according to experts at the Vietnam Footwear Summit 2019 held in HCM City on March 20.
Vice President of the Lefaso revealed that many domestic leather and footwear enterprises have created collections and designs to offer to their customers, rather than depending on their partners.
Vietnam faces a possible return to a trade deficit this year after three years of enjoying surpluses, experts said pointing to the sharp rise in imports and increasing difficulties facing exports.
Vietnam’s leather and footwear sector is set to continue to thrive in 2019, according to the Vietnam Leather, Footwear and Handbag Association (LEFASO).
The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) officially came into force in Vietnam on January 14, promising to open up opportunities for many industries to boost exports, but also posing challenges for businesses which require them to devise long-term strategies to increase their competitiveness in the global market.
The leather and footwear sector needs to develop supporting industry to reduce reliance on the import of raw materials, enhance competitiveness and boost high-value exports, said Deputy Minister of Industry and Trade Cao Quoc Hung.
Exports of footwear, suitcases and bags of all kinds are estimated at 19.5 billion USD in 2018, according to the Vietnam Leather, Footwear and Handbag Association (LEFASO).
The Vietnam International Fashion Fair (VIEF) 2018 opened at the Cultural and Friendship Palace in Hanoi on December 13, gathering nearly 150 leading garment-textile, leather-footwear and cosmetics firms from localities nationwide.
Vietnamese enterprises will benefit little from the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) if they lack connectivity, heard a seminar themed “CPTPP: Opportunities and Challenges for Vietnamese Businesses” held in Hanoi on November 28.
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