>>
Rewind 2021 and prospects for 2022 Rewind 2021 and prospects for 2022
Home / Knowledge / News / Apparel/Garments / Vietnam's footwear sector likely to attract FDI in 2018
Vietnam's footwear sector likely to attract FDI in 2018
05
Feb '18
The Vietnam Leather, Footwear and Handbag Association (LEFASO) has invited Skechers, a major footwear manufacturer in California, to study the possibility of investing in the country’s northern province of Hai Duong, according to association chairman Nguyen Duc Thuan, who is also the chairman of the TBS Group based in the southern province of Binh Duong.

This project may need 20,000 workers, a report in a Vietnamese news website said.

A rival to Nike and Adidas, Skechers wants to shift investment from China to Vietnam and its investment might be between $700 million and $1 billion, said Thuan.

Vietnam sold more than one billion pairs of shoes and sandals in the global market last year, ranking second behind China, which sold 13.8 billion pairs. It raked in $18 billion from footwear and handbag exports last year.

Idea Ltd, part of Taiwan’s Pou Chen Group, the largest branded athletic and casual footwear manufacturer in the world, is constructing a factory in Ho Chi Minh City’s Tan Tao Industrial Zone, according to a Vietnamese news website report. The factory, with an investment of $22.7 million, is expected to offer jobs to more than 100,000.

Pou Chen opened its first factory in Vietnam in 1994 in the southern province of Dong Nai. The group has expanded production to many other locations in the country with big production units since then.

US withdrawal from the Trans-Pacific Partnership agreement in late 2016 was a primary reason behind last year’s slowdown in foreign direct investment (FDI) capital flow into the country’s footwear sector, according to LEFASO.

The import value of machinery and equipment into the sector decreased to $146 million in the first 11 months of last year compared to $170 million a year during the 2015-2016 period, according to LEFASO general secretary Phan Thi Thanh Xuan. Similarly, import value of tanned leather was reduced to $1.5 billion, compared to nearly $1.6 billion in 2016.

The likely Vietnam-EU free trade agreement this year, however, is expected to boost FDI capital flow to the sector. The Vietnam Footwear Summit 2018, to be held in Ho Chi Minh City on March 21-22 with the theme ‘Development model for footwear factories in the new context’, is also expected to draw more than 300 domestic and international participants. (DS)

Fibre2Fashion News Desk – India


Must ReadView All

Pic: Shutterstock

Textiles | On 28th Jan 2022

Real US GDP rose at 6.9% annual rate in Q4 2021: BEA

Real US gross domestic product (GDP) increased at an annual rate of...

Pic: Shutterstock

Apparel/Garments | On 28th Jan 2022

Egypt’s garment exports rise by 41% to $2.49 bn in 2021 over 2020

The Egyptian apparel sector’s exports rose by 41 per cent in 2021 to...

Pic: Prasit Rodphan | Dreamstime.com

Textiles | On 28th Jan 2022

Cambodia-Vietnam trade volume touches $9.3 bn in 2021

Cambodia-Vietnam trade volume touched $9.3 billion last year—a rise...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Delay in adopting water sustainability both financially & environmentally...

Textile Industry, Head honchos

Textile Industry
Head honchos

Trainers faced immense challenges as most were not tech-savvy

Textile Industry, Head honchos

Textile Industry
Head honchos

Quality & affordability to affect market acceptability of new fibres

K Madhavan,

K Madhavan

Established in 2005 by P Manjunath, Peps is India's largest inner spring...

Sanjay Vakharia,

Sanjay Vakharia

One of the first few Indian denim brands, Spykar, established in 1992, was ...

Rishav Bajoria & Subham Sengupta,

Rishav Bajoria & Subham Sengupta

Launched in October 2020, the Gumti app could not have come at a more...

Johann-Philipp Dilo, Dilo Group

Johann-Philipp Dilo
Dilo Group

German company Dilo Group is one of the leading equipment suppliers of...

Shaan Sethi, Jaanuu

Shaan Sethi
Jaanuu

Jaanuu, a vertically integrated e-commerce company, has reimagined the...

Frank Heislitz, Freudenberg Performance Materials

Frank Heislitz
Freudenberg Performance Materials

Freudenberg Performance Materials is a leading global manufacturer of...

Samant Chauhan, Label Samant Chauhan

Samant Chauhan
Label Samant Chauhan

Delhi based fashion designer, <b>Samant Chauhan</b> who mostly works on...

Ramya Rao & Kavea R Chavali, Kalaneca

Ramya Rao & Kavea R Chavali
Kalaneca

<div>The journey of Kalaneca (kala-Art, Neca- Nikaah) formally began in...

Vidur Adlakha & Riccardo Bennidini, La Fuori

Vidur Adlakha & Riccardo Bennidini
La Fuori

With an active presence in US, Italy and India, clothing brand La Fuori...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments

ESTEEMED CLIENTS

Abit
Gokaldas Exports Limited
The Top Form Brassiere Manufacturing Company Limited
Chico’ FAS
Under Armour Global Sourcing Ltd
Lifestyle
Landmark Group
BIANCA
Babyshop
SHAHI Exports Pvt Ltd
Lululemon Athletica Inc
Midas Clothing Limited
Seasalt Limited
Lacoste (Wanchai)
Reiter India Private Limited
Sainsbury's Argos Asia Limited
Arvind Limited
Alison Hayes Romania
Gloria Jeans
Cat Tuong Real Estate Group Joint Stock Company
J ;& P Coats
Page Industries Limited (Bangalore)
Boardriders Asia Sourcing Limited
Vardhman Textile Ltd
Maceton Limited
Splash
Sportmaster Ltd.
Huntsman (Singapore) Pte Ltd
Rosset ;& Cia Limited
Truetzschler India Private Limited
Walmart
Lisa S.P.A.
Gap International Sourcing Limited
Target Corporation (MN)
BIMBA ;& LOLA SL
BIRLA CENTURY A DIVISION OF CENTURY TEXTILES AND INDUSTRIES
T.T. Limited
Recron Polyester from Reliance Industries Limited
IKEA of Sweden AB
Varner AS Retail
LC Waikiki
OVS Hong Kong Sourcing Ltd.
KIABI
Calvin Klein
Hirdaramani International Export Private Limited
Eastman Chemical Company
Bluestem Global Sourcing Limited
Esprit Europe Services GmbH
HYOSUNG CORPORATION INDIA PRIVATE LIMITED
PVH Corporation
IDH – The Sustainable Trade Initiative
MAS Active / MAS Kreeda / MAS Bodyline
John Varvatos
Puma
Desigual - ABASIC, S.A.
Gatsby Africa
Aramark Uniform ;& Career Apparel, LLC
Asos
Deckers Outdoor (Guangzhou) Consultant Co., LTD.
SYNERGIES HONG KONG LIMITED
KAS Direct Sourcing
Green Fibre
Etam Group Strategy Hong Kong Limited
Benetton Group
Groz-Beckert East Asia LLP
International Textile Manufacturers Federation
Sateri (Jiujiang) Fiber Co.,Ltd
Vianney Textil Hogar S.A. De C.V.
Amazon China
Brandix Lanka Limited
Helly Hansen Far East Ltd
Tory Burch Hong Kong Ltd
Rayonese Textile Inc., Division de Culp Inc.
Phong Phu international JSC (PPJ)
TESCO INTERNATIONAL SOURCING LIMITED
C;&A Sourcing International Ltd
Alix Partners
Lenzing Aktiengesellschaft
Decathlon
Guess Europe Sagl,
Chori Company Limited
Tommy Hilfiger
Permoda(Koaj/Armi/Pronto/Bkul)
THE BOMBAY DYEING ;& MFG.CO. LTD
Sportswear Company Spa
H;&M Hennes ;& Mauritz (Far East) Ltd
The LYCRA Company Singapore  Pte. Ltd
Grasim Industries Limited
Tchibo GmbH
Hela Clothing Pvt Ltd

January 2022

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search