Vietnam ships footwear to nearly 100 countries

7/19/2017 - 3:50:50 PM

Vietnam has shipped footwear products to nearly 100 countries worldwide, with 72 of them buying at least 1 million USD of the products, reported the Vietnam Leather and Footwear Association (LEFASO).

Workers make cloths for export at a factory in Vietnam (Photo: VNA)
Statistics from the General Department of Customs showed that the US remained Vietnam’s largest footwear importer as of late May with 1.99 billion USD, up 13.9 percent year-on-year and accounting for 35.2 percent of Vietnam’s total footwear export value.

The European Union (EU) ranked second with 1.76 billion USD, up 9.7 percent annually and making up 31.15 percent of the total. It was followed by China (418.4 million USD), Japan (284.4 million USD), the Republic of Korea (RoK) (158.3 million USD). Those five markets accounted for 83.3 percent of Vietnam’s earnings from footwear export.

The US also took the lead in buying Vietnam’s handbags, suitcases and briefcases, spending in excess of 555 million USD, up 6 percent and making up 41.1 percent of Vietnam’s shipments of those products. Behind the US was the EU (365 million USD), Japan (146.5 million USD), China (57.6 million USD), the RoK (52.8 million USD). The five top markets accounted for 87.2 percent of the total export value of handbags, suitcases and briefcases of Vietnam.

Nearly 80 percent of Vietnam’s leather product and footwear export value comes from factories located in the south, the southeast and the southwest regions. Ho Chi Minh City and the southern provinces of Binh Duong and Dong Nai are currently the largest footwear and handbag producers.

In the north, most leather and footwear factories are concentrated in Thanh Hoa, Hai Phong, Hai Duong, Hanoi, Ninh Binh and Thai Binh. In the central region, only Da Nang city and Quang Nam province have some large-scale production facilities.

In the first half of the year, the leather and footwear sector earned 8.7 billion USD from exports, marking a 11 percent increase, including 7 billion USD from footwear and 1.65 billion USD from handbags and suitcases, up 12 percent and 4 percent, respectively.

It is forecast that the total earning this year will hit 17.8 billion USD, up 10 percent annually.

The LEFASO suggested that firms join manufacturing chains at home, in the region and the world while adopting advanced technologies and exploiting advantages offered by free trade agreements in which Vietnam is a member.

Source: VNA

PM attends groundbreaking ceremony for electronic PCB factory in Hoa Binh

Prime Minister Pham Minh Chinh attended a groundbreaking ceremony for an electronic printed circuit board (PCB) factory at Da River Left Bank Industrial Park in Hoa Binh province on April 13. The electronic PCB factory is invested by Japan's Meiko Group at a total cost of 200 million USD.

In the first quarter, the total capital of the credit institutions was estimated at 40,128 billion VND

In the first quarter of 2024, the credit institutions in the province have actively deployed the legal documents of the State and the State Bank relating to currency, credit and interest rates. At the same time, they have promoted the capital mobilization, focusing on the solutions to expand the credit investment along with strengthening the credit quality management, lending to priority programs to promptly meet the capital needs for export - business and consumer demand during Tet in 2024.

Lac Son - attractive destination for investors

Outside the key economic region of Hoa Binh, yet Lac Son district has utilised its potential and strengths regarding labour, land, and transportation connectivity to attract investment to the locality, contributing to promoting socio-economic development.

Hoa Binh accelerating disbursement of ODA, foreign concessional loans

In a move to expedite the execution and disbursement of the 2024 capital plan for ODA projects, aiming for a disbursement rate of over 90% of the allocated funding, the Hoa Binh People's Committee issued Document No. 483/UBND-KTN on April 3, 2024, regarding such efforts.

The man who promotes Kim Boi district’s fruit brand

Nguyen Van Thap from Kim Duc hamlet, Vinh Tien commune, Kim Boi district, has built the brand of Hoa Qua Son for local fruits. His efforts have brought about income for his family and generated job opportunities for locals, helping hundreds of households escape from poverty.

Q1 disbursement of public investment funds reach 15% of yearly plan

The Hoa Binh administration was entrusted by the Prime Minister with a budget of 3.43 trillion VND (142.91 million USD) for investment in 2024. The provincial People's Council approved nearly 3.76 trillion VND, which has been meticulously allocated to projects, achieving 100% of the assigned capital plan.