According to the Vietnam Leather, Footwear and Handbag Association (Lefaso), the country’s leather industry is enjoying good chances to benefit from the shift of orders from China as a result of the tendency of moving to the production of high-tech goods.
Illustrative image (Photo: VNA)
Industry sources also said the signing of a number of trade
agreements like the Vietnam
– EU Free Trade Agreement (EVFTA) and the Comprehensive and Progressive
Agreement for Trans-Pacific Partnership (CPTPP) is ushering in chances of
development for Vietnam,
especially in attracting investment and boosting export to the markets in the
EU and CPTPP members.
Lefaso president Nguyen Duc Thuan
affirmed that export activities of Vietnam’s leather industry are
seeing a stable growth with positive signs for the second half of this year and
the years to come. The forecast for the world economy in 2018 is rosy, that is
why the demand in Vietnam’s
major export markets like the US,
the EU, China, Japan and the Republic of Korea
will be better than that in 2017.
China is believed to continue the policy of
reducing investment incentives in the industries of garment and leather to
focus on high-tech ones, and orders for footwear and handbags is expected to
keep moving from China to Vietnam in
anticipation of chances created by those FTAs. However, Vietnam’s
leather industry is now facing numerous difficulties like rising labor costs
and low productivity compared to other countries in the region. Especially, the
Fourth Industrial Revolution will also cause impact on the enterprises in the
industry as they will head to investing in modern machinery and reducing work
hands.
The leather industry’s production is
planned to turn out about 279 million pairs of footwear in this year, with 72
million pairs in the third quarter and 80 million pairs in the last.
The first half of this year continued to witness
a growth in the production by the industry, with 127.4 million pairs produced,
an increase of 5.1% year-on-year. They brought back US$9.45 billion to the
country, rising by 8.4% compared to the same period last year. The export
revenue of this kind of product is forecast to reach US$19.5 billion, or 10%
higher than the figure recorded in 2017.
Source: NDO
Since the beginning of this year, under the direction of the Department of Agriculture and Environment, the Sub-Department of Agricultural, Forestry, and Fishery Product Quality Management has strengthened the integration of the professional activities to promote and guide the organizations and individuals in the production and trading of agricultural, forestry, and fishery products to comply with the legal regulations regarding the use of chemicals, pesticides and veterinary medicines in crop cultivation, livestock farming and aquaculture. They also provide guidance to processing and manufacturing establishments on keeping the records to trace the product origins and using food additives from the approved list according to the regulations.
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