Global financial crisis has taken its toll on handicraft villages of Vietnam. Plunge in foreign demands for handicrafts due to recession contracted the exports of Vietnam's handicraft products, said an expert.
This would make around 5 million handicraft village labourers of the country to lose their jobs this year, anticipated Vietnamese Ministry of Labor, War Invalids and Social Affairs.
The labourers working specifically in handicraft villages of pottery, wood and rattan are affected drastically than others.
The government of Vietnam is taking measures such as job training, unemployment insurance, trademark promotion in international markets, and expanding export markets in order to reduce the difficulties.
There are around 2,800 handicraft villages in Vietnam which require more than US$ 224 million of investment to produce higher quality products, said an official connected with the handicrafts sector.
Fibre2fashion News Desk - India
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