US major project marks good start in 2018 for footwear industry. Illustrative image. (Photo: VNA)
Hanoi (VNA) – Skechers USA, amajor footwear maker based in California, is studying a plan to invest inVietnam in a project that probably needs 20,000 workers. The project marks agood start for the local footwear industry after a slowdown in 2017.
Skechers, a heavyweight rival to twoglobal footwear brands – Nike and Adidas, sold more than 200 million productslast year and now seeks to shift investment from China to Vietnam.
The firm was advised by the VietnamLeather, Footwear and Handbag Association (LEFASO) to set up the first facilityin northern Hai Duong province with an investment slated for between 700million and 1 billion USD.
The project offers hope to Vietnam’s footwear industryas the sector saw falls in not only foreign but also domestic investment lastyear.
Benefits of free trade agreementsbetween Vietnam and other nations have added heat to the footwear industry,leading to a record growth rate of 28 percent in the flow of investment intothe sector in 2015, said Phan Thi Thanh Xuan, LEFASO general secretary.
However, after the United State withdrewfrom the Trans-Pacific Partnership (TPP) and the United Kingdom chose to leavethe EU, the investment declined in 2017. It was clearly reflected by thecontraction in imports of shoe-making machinery, equipment and materials, sheexplained.
Imports of footwear machinery andequipment in 2017 decreased to 146 million USD, compared to 170 million USD a yearduring the 2015 – 2016 period. Leather imports also fell to 1.5 billion USDlast year from 1.6 billion USD in 2016, she added.
Xuan noted that the EU-Vietnam FreeTrade Agreement is expected to be signed this year, adding that once the tradedeal enters into force, it will eliminate import duties on Vietnam’s trainersand handbags.
The tariff elimination will not onlydirect more flows of foreign orders to Vietnam but also draw greater investmentfrom international footwear manufacturers, such as Skechers, into the country,she said.
Vietnam is now in the world’s Top 5 shoemakers with 70percent of the total export revenue contributed by foreign-investedenterprises.-VNA
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.
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.
The new Government decree also simplifies loan procedures while expanding credit incentives to include organic and circular agriculture, allowing them to access preferential terms similar to those of high-tech and value-chain based agricultural production.
Developed with state-of-the-art infrastructure, the Da Nang FTZ is designed to become a leading regional economic centre and a strategic growth pole in Vietnam’s new development landscape.
The Binh Duong Association of Supporting Industries (BASI) is expected to promote the usage of domestically manufactured components while supporting businesses in accessing international markets, strengthening linkages, and promoting deeper integration into global supply chains.
PwC Vietnam forecasts a vibrant M&A market in Vietnam’s healthcare sector in 2025, driven by rising demand for high-quality medical services and a growing middle class. Pharmaceutical companies, private hospitals, and specialised medical facilities, particularly in ophthalmology and oncology, are predicted to be key targets for M&A.
The central province of Quang Nam is set to become a hub for the medicinal plant industry, with Ngoc Linh ginseng designated as the core crop, under the Prime Minister's decision issued earlier this year.
The North-South Expressway project is scheduled for completion by 2030, aiming to establish the groundwork for Vietnam’s modern railway industry and stimulate regional economic development, positioning the country for a significant economic leap in the era of national rise.
The probe, initiated on June 11 following a petition by the US Coalition for Fair Trade in Hardwood Plywood, targets products classified under HS Code 4412 and 9403 imported from China, Indonesia and Vietnam.
Sun PhuQuoc Airways was born as a perfect piece in Sun Group’s strategic vision to build a premium ecosystem of tourism, entertainment, real estate, and aviation. With a pioneering ambition, Sun PhuQuoc Airways is not just an airline, but a symbol of connection – bringing the world to Phu Quoc and taking Phu Quoc to the world.
A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
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.
US major project marks good start in 2018 for footwear industry. Illustrative image. (Photo: VNA)
