Vietnam's Footwear Sector Challenging Chinese Counterpart

Vietnam’s footwear businesses may be challenging the China’s counterparts as the US footwear importers are looking to diversify away from low-cost Chinese products and reduce the dependence from that country, the industry insider experts said.

 

China has for long been the US’s biggest footwear supplier but many US are looking to other countries including Vietnam to reduce the dependence on that country, they noted.

 

With Vietnam’s WTO membership and PNTR passed by the US Congress, Vietnamese footwear firms should grab gold chances to expand a share of the lucrative market of the US if they focus on improving quality, increase the use of the skilled workers and launch more promotion activities.

 

They also need to intensify investment in modern equipment, become more professional, they added.

 

The Vietnam Leather Footwear Producers’ Association should fully play the bridging role between domestic and US importers by assisting the former to take part in the annual international footwear fairs at Las Vegas, the US.

 

The US imported US$20 billion worth footwear products and accessories from Vietnam last year, according to the US Department of Commerce.

 

Of which, Vietnam accounted for only 5 per cent, but some US importers planned to step up imports from Vietnam, particularly footwear with intricate design and high quality, they said.

 

Other Asian countries like Indonesia and Thailand used to be large suppliers to the US before political instability. (VNS)