Vietnam will miss shoe export target, admits governm - leatherbiz: Lea Leatherbiz

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Vietnam will miss shoe export target, admits government

01/10/2020
Vietnam will miss its footwear export target of $24 billion for 2020 because of the covid-19 pandemic, according to its government, but it said it is optimistic about the sector.

It said Vietnam has dealt with the pandemic well, and should be able to benefit from falling orders from China.

The government has also said it needs to build a supply chain of raw materials to take advantage of the Vietnam-EU Free Trade Agreement, according to a report on media site VietnamNet News.

The agreement came into force on August 1 but will only benefit manufacturers who can source materials and components within the country; only about 15% of companies have the capital and resources to benefit, it added.

The export value of footwear in the first eight months of this year reached $10.9 billion, down 8.6% from the same period in 2019.



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