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Hanoi: 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 suppl
y 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./.
Source: Vietnam News Agency
