Viet Nam''s footwear sector is now beginning to see positive signs after export revenue for footwear and handbags fell 11 per cent year-on-year to US$19.5 billion in 2020, making it one of the sectors hardest hit by COVID-19.
A diversified supply chain and numerous free trade agreements (FTAs) have set up the stage for a strong come back for Viet Nam''s textile sector, said experts and industry leaders.
Việt Nam’s leather and footwear industry should improve its supply chain performance to take advantage of the milestone trade deal that Việt Nam has signed with the EU.
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.
Vietnamese footwear exports will enjoy zero tariff once the ASEAN
Economic Community (AEC) is established in late 2015, allowing producers
to expand their markets and access new materials.
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.
The leather and footwear sector expects to surpass its target of US$9.7
billion in turnover this year, as many Japenese importers have shifted
their orders from China to Viet Nam.