This year, the footwear industry continues to target exports to Africa, Asia, Japan, Europe and the US, while also taking initial steps to engage with major e-commerce platforms like Alibaba and Amazon to open new sales channels.
Vietnam is ramping up efforts to expand market access for its agricultural, forestry, and fishery products through negotiations with potential partners, paving the way for a breakthrough in the country's agricultural products.
Vietnam views international economic integration, particularly through free trade agreements (FTAs), as a key gateway to connect the country with the world, and bring its economy closer to global standards, Prime Minister Pham Minh Chinh said at the announcing ceremony of the 2024 FTA Index on April 8.
Nguyen Dinh Tung, CEO of Vina T&T Import Export Service Trading Co. Ltd., stressed that tougher technical barriers in global markets are creating a level playing field, compelling exporters to prioritise quality and compliance.
The leather and footwear industry aims for an export growth rate of 10% in 2025, with total turnover projected at 29 billion USD, heard a conference hosted by the Vietnam Leather, Footwear, and Handbag Association (LEFASO) in Hanoi on January 3.
Thailand’s Ministry of Commerce has pledged to pursue more free trade agreements (FTAs) in 2025 in an effort to boost the country's economic growth rate to 3%.
Rice exports set new records in both volume and value in 2024 but the commodity is expected to face a difficult year ahead as India lifted its ban on non-basmati white rice exports in September, which will push up global rice supplies next year.
Vietnam's footwear and leather industry is poised to achieve 26-27 billion USD in export in 2024, marking a 3 billion-USD increase from the previous year, as they country has well capitalised on the signed free trade agreements to bolster shipment, according to the Vietnam Leather, Footwear and Handbag Association (Lefaso).
Together with the UK - Vietnam Free Trade Agreement (UKVFTA), the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) will create new opportunities for companies and consumers in the UK and Vietnam, affirmed British Ambassador to Vietnam Iain Frew.
The economic forecast for 2025 reveals great potential, but also shows challenging investment prospects, especially in the context of fluctuations in global geopolitics and the economy.
As of October 2024, Vietnam has signed and implemented 17 Free Trade Agreements (FTAs) and is negotiating two more. Expanding its FTA network underscores Vietnam’s commitment to economic integration, offering substantial opportunities to deepen its role in global value chains, boost exports, drive GDP growth, and enhance institutional frameworks.
Vietnam ranks 12th among the 27 countries and territories in the Asia Power Index 2024, recently launched by the Australia-based Lowy Institute, with its overall score gaining 1.2 points compared to last year.
Vietnam hopes that Irish businesses, with their capacity and resources, will pour more investments into the country, Party General Secretary and State President To Lam said in Dublin on October 3.
The Ministry of Industry and Trade (MoIT) has analysed trade defence instruments from other countries imposed on Vietnam’s exports and discussed measures to mitigate them in the future.
Vietnam has so far attracted 3,500 foreign direct investment (FDI) projects in the garment - textile industry with a combined value of 37 billion USD, according to the Vietnam Textile and Apparel Association (VITAS).
According to the Ministry of Industry and Trade, Vietnam exported approximately 265 billion USD worth of goods during the January-August period, marking a remarkable 15.8% increase compared to the same period last year.
A ceremony was held on September 9 by the Vietnamese Embassy in Indonesia and Vietnam’s Permanent Mission to the Association of Southeast Asian Nations (ASEAN) in Jakarta to celebrate the 79th anniversary of Vietnam's National Day (September 2).
The ASEAN Festival 2024 was held at Angela Peralta Theatre in downtown Mexico City, offering an opportunity for local residents to immerse themselves in the tapestry of diversified culture from ASEAN countries.
Vietnam is one of the fastest-growing economies in Southeast Asia with promising potential and favourable macroeconomic factors such as a young population, skilled labour force, and abundant natural resources, according to Deputy Chairman & CEO of Singapore-based United Overseas Bank (UOB) Wee Ee Cheong.
