The leather and footwear sector’s exports reached nearly 5 billion USD in the first five months of this year, up 6 percent against the same period last year, according to the Ministry of Industry and
Hanoi (VNA)꧅ – The leather and footwear sector’s exports reached nearly 5 billion USD in the first five months of this year, up 6 percent against the same period last year, according to the Ministry of Industry and Trade.
In May only, exports of leather and footwear products were valued at 1.15 billion USD, a year-on-year decrease of 0.6 percent.
The production of leather footwear products in May saw an 6.2 percent decline to 19.3 million pairs.
In the January-May period, the sector produced 93.8 million pairs, down 2.9 percent compared to the same period last year.
This year, the sector sets a goal of 17 billion USD in export value, of which 13-13.5 billion USD are from exports of footwear.
Last year, Vietnam gained a high growth rate in export value from the leather and footwear industry at 15 billion USD, an increase of 16 percent year-on-year, according to the Vietnam Leather and Footwear Association (Lefaso). Of the value, 12 billion USD were from footwear.-VNA
Domestic and foreign-invested enterprises (FIEs) in the leather and footwear sector continue to experience impressive growth, ranking Vietnam the second largest global exporter of footwear, radio The Voice of Vietnam (VOV) reported.
Exports of the country's leather and footwear sector have long depended upon foreign direct investment (FDI) businesses, as 77 percent of the total export value came from foreign enterprises.
The leather and footwear sector earned 8.8 billion USD from exports in the first nine months of this year, up 18.4 percent from the same period last year.
The conclusion of the Trans-pacific Partnership (TPP) agreement and other free trade agreements (FTAs) will bring great opportunities to Vietnamese businesses, especially leather and footwear firms.
China’s Laoling city, in coordination with VINEXAD, hosted a series of events in Ho Chi Minh City from August 7-9 to seek trade and economic cooperation with Vietnam.
Vietnamese Ambassador to Cambodia Nguyen Minh Vu led a delegation to Mondulkiri, Ratanakiri, and Kratie provinces from August 5-8, aiming to deepen economic ties and support Vietnamese businesses operating in Cambodia’s northeastern region.
Party General Secretary To Lam’s upcoming state visit to the Republic of Korea (RoK) is expected to mark a new milestone in the bilateral relationship, creating fresh momentum for trade and investment cooperation between the two countries.
In the context of the growing global digital economy, digital transformation and the promotion of e-commerce are key drivers helping Vietnam boost integration, enhance competitiveness, and expand export markets, according to the Vietnam E-commerce and Digital Economy Agency
Tilapia is considered highly competitive in export markets thanks to its affordability, ease of processing, and appeal across both high-end and mass-market segments.
In the first seven months of the year, Phu Tho attracted an impressive 651.7 million USD in foreign direct investment, including 35 newly licensed projects totaling 119 million USD in registered capital and 45 existing projects with an additional capital of 533 million USD.
Under the agreements, VinEnergo will invest in, install, and operate 43 MWp of rooftop solar power capacity and 45 MWh of BESS capacity across the three plants.
Under a draft to amend and supplement the Government's Decree 125/2020/ND-CP on administrative sanctions for violations of tax and invoice regulations, the Ministry of Finance has proposed classifying the failure to issue invoices into five different levels. Infraction levels will correspond to fines of 1 million VND to 80 million VND, depending on the nature and number of invoicing violations.
A new airline developed and invested by Sun Group — has officially announced a strategic partnership with Amadeus IT Group (Amadeus), one of the world’s leading travel technology companies. This agreement not only lays the foundation for a modern digital infrastructure but also marks a pivotal step in SPA’s global expansion strategy, enabling the airline to access international distribution networks and reach customers worldwide.
Of the total, 107,700 were new firms, with combined registered capital of 928.4 trillion VND (35.4 billion USD), up 10.6% in number and 5.5% in capital compared with the same period last year.
Experts agree that a combination of technology, enforcement, education and cross-border cooperation is essential to protect copyrighted content in Vietnam’s growing digital ecosystem.
Poland is Vietnam’s largest export market in Central and Eastern Europe, with key staples including seafood, textiles, footwear, coffee, and cashew nuts.
Cashless payments are growing at an impressive rate, averaging 30–40% annually. Vietnam’s per capita cashless transaction volume now trails only China, with total value of 295.2 quadrillion VND (11.26 trillion USD), or 26 times of its GDP.
A draft resolution on piloting a digital asset and cryptocurrency market is being developed, aiming to create a broad-enough regulatory sandbox that enables investor participation and provides practical grounds for policy refinement in areas such as risk management and anti-money laundering.
Illustrative photo (Source:Internet)
