leather
HANOI: Export revenue of Vietnamese leather, footwear and handbag sector is predicted to hit US$26-27 billion in 2024 on the basis of the positive results seen so far, Vietnam News Agency reported on Monday (July 15), citing the Vietnam Leather, Footwear and Handbag Association.
The agency cited Phan Thi Thanh Xuan, the association's vice president and general secretary, as saying that Vietnam had focused on five major markets, namely the United States, the European Union, Japan, South Korea, and China.
Along with maintaining its shares in traditional markets, the sector is working to expand to others, especially those with a free trade agreement with Vietnam, she said.
The sector's exports exceeded 6.5 billion dollars in H1, up 5.7 percent over the same period last year, according to the association.
Vietnam's large-scale leather and footwear sector has more than 1,000 factories and about 1.5 million workers, making the contribution of about 8 per cent to the national gross domestic product.
According to experts, the sector has remained attractive to foreign investors thanks to an abundant and low-cost labour force. - Xinhua
