Viet Nam''s export of leather, footwear and bags this year will likely increase 10-15 per cent year-on-year to about US$23-25 billion, the Viet Nam Leather, Footwear and Handbag Association (Lefaso) has forecast.
Viet Nam''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).
The domestic leather and footwear industry still has a chance to increase exports by year-end, but it will be unable to reach its export target of US$24 billion.
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.
Viet Nam’s leather and footwear industry will continue to develop in the coming years, according to the Viet Nam Leather, Footwear and Handbag Association (Lefaso).
A dramatic change in market trends and the "fourth" industrial revolution are forcing Vietnamese enterprises to gradually apply new technologies to production.
Viet Nam’s development plan for the leather and footwear industry by 2025 with a vision towards 2035 needs to change, according to the Ministry of Industry and Trade (MoIT).
Viet Nam''s leather and footwear industry expects to gain a total export
value of US$17 billion this year partly due to the many advantages from
business conditions.
Export value of the domestic leather and footwear industry could grow
between 15 per cent and 20 per cent this year due to opportunities from
free trade agreements (FTAs).
A successful 2014 and the promise of bigger export opportunities has
given the domestic leather and footwear industry the confidence to set a
US$14 billion export target for this year.
The footwear industry is strolling towards a US$12 billion export target
for this year, thanks to encouraging export results in the first four
months, industry insiders have said.