With orders secured for the second quarter, activities are in full swing in many leather and footwear production plants, bringing about the hope for a year of buoyant exports.
Activities are in full swing in many leather and footwear production plants. (Photo: VNA)
Hanoi (VNA) – With orders secured for the second quarter, activities are in full swing in many leather and footwear production plants, bringing about the hope for a year of buoyant exports.
According to data from the General Statistics Office, as of February 15, leather and footwear product exports raked in more than 2.46 billion USD, up 16% year-on-year.
Phan Thi Thanh Xuan, Vice Chairwoman and General Secretary of the Vietnam Leather, Footwear and Handbag Association (LEFASO), said the sector still focus on its five key export markets, namely the US, which accounts for about 35% of its total export revenue, the EU, Japan, the Republic of Korea, and China.
Notably, the growing turnover from the Chinese market has come as a boon for the sale of these products abroad this year, she assessed.
Despite the current surge in the number of orders, experts believed that difficulties and challenges remain ahead. Green and sustainable standards that require eco-product policies, extended producer responsibility, and supply chain traceability, among many others, are likely to be applied on Vietnamese goods by their major importers. The compulsory adherence to those requirements means a significant pressure for enterprises.
Nguyen Quang Vu, Chairman of the Leather, Footwear and Handbag Association of the southern province of Binh Duong, underscored business connectivity as a solution, because an individual firm might lack investment to build such a production ecosystem as required. It is the only path toward development, he said.
In a bid to support the sector, the Ministry of Industry and Trade has planned large-scale trade promotion events for its key products, helping them to expand their export markets./.
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).
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.
In the first 11 months of 2023, seven commodities of Vietnam posted export value of over 10 billion USD, accounting for over 60% of the country's total export turnover.
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Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Activities are in full swing in many leather and footwear production plants. (Photo: VNA) 
