The Hanoitimes - Export turnover from Vietnam’s leather and footwear products in 2018 is set to rise 10 percent against last year to US$20 billion, according to the Vietnam Leather, Footwear and Handbag Association (Lefaso). Lefaso’s vice chairwoman Phan Thi Thanh Xuan forecast that positive signs in the world’s economy and increasing consumption demand would help footwear and handbags remain Vietnam’s top four and ten foreign currency earners, respectively, in 2018. Footwear is forecast to be among Vietnam’s top four export items this year The industry is also expected to grow 5 percent from last year, with the localization rate reaching 55 percent. Xuan said that to help Vietnamese exporters meet the targets, the association will actively participate in relevant policy making while luring foreign and domestic investment in support industry, thus increasing the localization rate and ensuring sustainable development. Besides hosting … [Read more...] about Footwear sector targets US$20 billion from exports in 2018
Footwear
Leather, footwear sector targets USD20 billion in export earnings
According to the Vietnam Leather, Footwear and Handbag Association (LEFASO), the leather and footwear industry is expected to grow 5 percent from last year, with the localisation rate reaching 55 percent. Footwear and handbags will remain Vietnam’s top four and 10 exports, respectively.Leather, footwear sector targets USD20 billion in export earnings (Source: VNA)Addressing the event, LEFASO Vice President Phan Thi Thanh Xuan highlighted positive signs in the world’s economy and increasing consumption demand, saying that these create both favourable conditions and challenges to Vietnam in exports and investment.In order to help Vietnamese exporters realise the target, the association will actively participate in relevant policy making while luring foreign and domestic investment in support industry, thus increasing the localisation rate and ensuring sustainable development.It will host trade promotion events, workshops, and training classes to improve the management … [Read more...] about Leather, footwear sector targets USD20 billion in export earnings
Leather, footwear sector sets US$20 bln export target
According to the Vietnam Leather, Footwear and Handbag Association (LEFASO), the leather and footwear industry is destined to increase by 5% from one year earlier, with the localisation rate of 55%. Footwear and handbags will remain Vietnam’s top four and 10 export items, respectively.In her remark at the conference, LEFASO Vice President Phan Thi Thanh Xuan highlighted positive signs in the world economy and growing consumption demand, which have provided favourable conditions and posed challenges to Vietnam's exports and investment.To actualize the target, the association has been urged to engage in relevant policy making, attract more foreign and domestic investment in support industry, thus increasing the localisation rate and ensuring sustainable development.Trade promotion events, workshops, and training classes are planned to improve the management capability of enterprises, and attend international trade fairs, Thanh said.In 2017, the sector fetched US$18 billion … [Read more...] about Leather, footwear sector sets US$20 bln export target
Leather, footwear sector targets 20 bln USD in export earnings
Leather, footwear sector targets 20 billion USD in export earnings (Source: VNA) Hanoi (VNA) – 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. According to the Vietnam Leather, Footwear and Handbag Association (LEFASO), the leather and footwear industry is expected to grow 5 percent from last year, with the localisation rate reaching 55 percent. Footwear and handbags will remain Vietnam’s top four and 10 exports, respectively. Addressing the event, LEFASO Vice President Phan Thi Thanh Xuan highlighted positive signs in the world’s economy and increasing consumption demand, saying that these create both favourable conditions and challenges to Vietnam in exports and investment. In order to help Vietnamese exporters realise the target, the association will actively participate in relevant policy making while luring foreign and domestic … [Read more...] about Leather, footwear sector targets 20 bln USD in export earnings
Vietnam expects to export more footwear in 2018
In addition, an association of American producers are working to get a tariff-related bill approved, paving the way for cutting taxes on several imported products. Vietnam earned 17 billion USD from leather and footwear exports in 2017, up 10% from 2016. The US was the biggest importer, accounting for 34% of the total revenue, followed by the EU. Vietnam’s footwear exports to major markets like South Korea, Japan, and China, asw stable growth, Lefaso said. … [Read more...] about Vietnam expects to export more footwear in 2018
Italy – Vietnam Footwear Technology Centre Designed to Develop Vietnam Footwear Industry
The Vietnam Leather, Footwear and Handbag Association (Lefaso) recently hosted a working meeting with Mr Ivan Scalfarotto, Deputy Minister of Economic Development of Italy, at the Italy - Vietnam Footwear Technology Centre in the Vietnam Leather and Footwear Research and Development Centre, based in Binh Duong province. The visit of the Italian delegation aimed to mark a new milestone in long-term sustainable footwear development of the two countries and thus express the concern of the two governments for an industry critical to both economies. The Italy - Vietnam Footwear Technology Centre was established in July 2017 from the long cooperation between Italian ASSOMAC and Vietnamese LEFASO following the signing of annually renewed cooperation agreement. The Italian Chamber of Commerce has facilitated this cooperation by supporting specific initial steps, such as the Technical Assistance Project and subsequent training courses in Vietnam and then in Italy, including the … [Read more...] about Italy – Vietnam Footwear Technology Centre Designed to Develop Vietnam Footwear Industry
Strong growth in footwear exports to U.S.
Strong growth in footwear exports to U.S.Tran Thu By Tran Thu - The Saigon Times Daily HCMC – Vietnam’s footwear exports to the U.S are growing fast and projected to hold bigger share in this market while such products of China shipped to America are declining. Matt Priest, chairman of the Footwear Distributors and Retailers of America (FDRA), told a conference on how to enhance business efficiency of footwear factories held in HCMC on November 10 by the Vietnam Leather and Footwear Association (Lefaso) that Vietnam’s footwear exports to the U.S. had edged up nearly 16.5% this year. Meanwhile, America’s footwear imports inched up 1.6% only while China’s footwear shipments to the U.S. slid 4.4%. In addition to Vietnam, footwear exports of India, Cambodia and Ethiopia to the U.S. enjoyed good growth as well. Priest said market share of Vietnam’s footwear in the U.S. is forecast to climb to 12% in 2018 from the 10% recorded last year. However, this … [Read more...] about Strong growth in footwear exports to U.S.
Local footwear makers target 50% domestic market share
Local footwear makers target 50% domestic market shareBy Thu Nguyet - The Saigon Times DailyHCMC –Vietnam’s footwear industry has set a high target of occupying a domestic market share of 50% this year compared to the current 30%, which will require footwear makers to painstakingly implement their plans, an official told the Daily on Tuesday.Vice Chairman of the Vietnam Leather and Footwear Association (Lefaso) Diep Thanh Kiet said building and Kiet said foreign competitors are holding a dominant share of 70% on the local footwear market.This will not be easy, he said, explaining that local brands are less known in the country as over two-thirds of the total 500 Vietnamese enterprises in the industry are operating as sub-contractors for well-known foreign brands such as Nike, Adidas and Converse. As such, local footwear makers are now heavily dependent on foreign partners’ technologies and designs.“The success in building trademarks depends on individual … [Read more...] about Local footwear makers target 50% domestic market share
Deputy PM lauds apparel-footwear award
Deputy PM lauds apparel-footwear awardBy Ngoc Lan - The Saigon Times Daily“I praised the Vietnam Textile and Apparel Association (VITAS) and other partners for organizing the serious selection, especially amid disrepute of too many enterprise awards over the past time,” Hung said at the prize-awarding ceremony for the Best-Performing Textile-Garment and Leather-Thoi bao Kinh te Saigon of the Saigon Times Group and VITAS organized the sixth selection of garment-textile firms while footwear enterprises joined the playground for the first time this year in collaboration with the Vietnam Leather and Footwear Association (LEFASO). The combination is the result of key policies of the two associations to create a strong position for the fashion industry with a wide variety of products, LEFASO Chairman Nguyen Duc Thuan said at the awarding ceremony.Garment and textile is the leading export industry in Vietnam that is employing around two million workers and expects to reach US$9.2 … [Read more...] about Deputy PM lauds apparel-footwear award
Vietnam’s leather and footwear expand exports to the EU
Speakers at the meeting said Vietnamese leather and footwear exporters must comply with the EU-Vietnam free trade agreement’s rules of origin and be prepared to deal with EU barriers and anti-dumping measures.Vice chairwoman and general secretary of the Vietnam Leather, Footwear and Handbag Association (Lefaso) Phan Thi Thanh Xuan, said the EV-FTA would increase exports because of lower tariffs and contribute to eliminating other trade barriers. However, Vietnamese leather and footwear manufacturers and exporters will confront challenges as well. To meet EU requirements, Vietnamese businesses will have to improve technologies and manufacturing processes to ensure high quality.As most leather and footwear manufacturers in the country are foreign-invested, locally-owned enterprises will have to enhance competitiveness to increase market share.Deputy head of the origin of goods division under the Ministry of Industry and Trade’s Export-Import Department Vuong Duc Anh, said … [Read more...] about Vietnam’s leather and footwear expand exports to the EU