Vietnamplus

The Leather Summit 2023 will be held at the famous Craft Village Cluster in Phu Yen commune and Thon That Craft Village, Minh Duc commune, Hanoi on March 1.

Under a strategy to develop garments, textiles and footwear by 2030 with a vision to 2035, Vietnam aims to gain 38-39 billion USD in export turnover from leather and footwear products by 2030.

Vietnam supports the Federation of the European Sporting Goods Industry (FESI) to develop its production system of footwear and sporting goods in the country, said Minister of Industry and Trade Nguyen Hong Dien on December 14.

The Vietnam Trade Office in Australia has introduced high-quality Vietnamese garment and textile products at a recent exhibition, which was part of the International Sourcing Expo Australia.

The 22nd International Shoe & Leather Exhibition – Vietnam is slated for November 16 – 18 at the Saigon Exhibition and Convention Center (SECC) in Ho Chi Minh City.

Vietnam's leather and footwear enterprises face many challenges in the remaining months of 2022, especially the lack of market information, according to the Vietnam Leather, Footwear and Handbag Association (Lefaso).

Overseas shipments within the first seven months of 2022 earned more than 14 billion USD for the leather and footwear sector, an annual increase of 13%.

The signing of a series of new-generation FTAs such as the CPTPP, the Vietnam-EU FTA, and the RCEP is expected to significantly impact the Vietnamese economy by helping expand import-export markets and open up new potential markets.

With 80 percent of workers returning to work in factories and abundant orders right from the beginning of the year, the footwear sector has seen bright prospects for this year.

Export revenue of the Mekong Delta province of Kien Giang is estimated to reach 731 million USD in 2021, a rise of 7.17 percent year on year.

The Mekong Delta province of Kien Giang earned over 526 million USD in export value in the first nine months of 2021, meeting over 70 percent of the year’s plan and posting a year-on-year rise of nearly 2 percent, according to the provincial Department of Industry and Trade.

Vietnam has rolled out the red carpet for foreign investors, including those from ASEAN member states, to land investment in the field of advanced medical equipment, said Counselor Nguyen Manh Hung at the Vietnamese Embassy in Germany.

Several of Vietnam’s key export sectors, such as textile-garment, leather-footwear, and electronics have become magnets for merger and acquisition (M&As) activities, posing a risk of leading enterprises in those sectors being purchased by foreign investors.

Vietnam’s leather and footwear export saw rosy signs in the first quarter of this year compared with the same period last year, with footwear export turnover reaching 4.74 billion USD, up 13.5 percent.

Domestic leather and footwear firms have no choice but to convert their production activities as difficulties are expected to linger through this year due to the impact of the COVID-19 pandemic, experts have said.

Vietnam’s footwear sector is now beginning to see positive signs after export revenue for footwear and handbags fell 11 percent year-on-year to 19.5 billion USD in 2020, making it one of the sectors hardest hit by COVID-19.

The COVID-19 pandemic will continue creating trouble for the leather-footwear sector in Europe and the US – its key markets for export, in 2021, the Sai Gon Giai phong newspaper reported, citing experts’ opinions.

Although the market has not fully recovered, footwear and handbags export turnover is expected to return to growth in the fourth quarter of this year during the year-end shopping rush in European and American countries.

Export turnover of leather and footwear is likely to rise again in the fourth quarter of this year, according to the Ministry of Industry and Trade (MoIT).

Vietnam's leather and footwear industry was on course for a strong recovery as more international fashion brands were valuing the country as an important part of the global supply chain, according to the Vietnam Leather, Footwear and Handbag Association (LEFASO).