Export revenue of the leather, footwear and handbag sector is predicted to hit 26-27 billion USD in 2024 on the basis of the positive results seen so far, according to the Vietnam Leather, Footwear and Handbag Association (LEFASO).
The 24th International Shoes & Leather Exhibition and the International Footwear and Leather Products Exhibition (IELE- Vietnam) kicked off at the Saigon Exhibition and Convention Centre (SECC) in Ho Chi Minh City on July 10, showing a variety of shoe making and tanning machinery and technologies, leather and other materials, shoe components and accessories, and finished products.
Experts say three years after it came into effect, the Vietnam-UK Trade Agreement (UKVFTA) has opened many opportunities for businesses in the textile, garment, and leather - footwear sectors to boost exports and increase value.
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.
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.
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.
Close to 400,000 workers in the Indonesian leather and footwear industry are foreced to stop working due to the COVID-19 pandemic, according to preliminary statistics.
The export turnover of Vietnam's leather and footwear in the first quarter of 2019 reached 3.97 billion USD, up 15.3 compared to the same period last year.
Vietnam has always prioritised and implemented many policies aiming to create a favourable environment for women to equally participate in socio-economic activities.
Vietnam sets a target of earning between 19.5 - 20 billion USD from leather and footwear exports in 2018, up 10 percent from 2017, heard a conference in January 12.
Leather and footwear exports in the first eight months topped 9.64 billion USD, a year-on-year increase of 12.2 percent, according to the Ministry of Industry and Trade.
Leather crafting has attracted many youngsters and become popular. Many even run their own start-ups in leather crafting. Let's meet Hoang Thanh Tung, a pioneer in leather crafting in Vietnam.
A survey by the Vietnam General Confederation of Labour (VGCL) conducted in March and April on 2,500 workers revealed that labourers work overtime for the extra money, not because they want to.
The Vietnam Leather and Footwear Association (Lefaso) will run a leather and footwear promotion conference focusing on improving business and export capability for enterprises on March 15 in HCM City.
Vietnam’s leather and footwear industry expects to reach a total export value of 18 billion USD this year, up 10 percent from last year, said the Vietnam Leather, Footwear and Handbag Association.
The leather and footwear sector forecasts that its export earnings can reach 18 billion USD this year, up more than 10 percent from 2016, while manufacturing index would grow by 5 percent.
Vietnam’s leather and footwear industry expects to reach a total export value of 17 billion USD this year, partly due to advantageous business conditions.
The domestic handbag industry must increase investment and quality to meet the rising demand from importers under new bilateral and multilateral trade agreements, an industry official has said.
