A meeting was held between Indian and Vietnamese leather industry executives in HCM City this week, and they sought to strengthen ties between the two leather powerhouses. – VNA/VNS Photo Viet Dung A visiting delegation of 30 executives from Indian leather companies have met with their Vietnamese counterparts in HCM City. The meeting on Thursday between two of the world’s top three footwear producers was organised by the Indian consulate in HCM City and the Viet Nam Leather Footwear and Handbag Association (LEFASO) in HCM City. The visitors, led by India’s Council for Leather Export, became acquainted with their Vietnamese counterparts and showcased their products as they sought potential partners. Diep Thanh Kiet, deputy chairman of LEFASO, said Viet Nam’s exports of footwear and handbags were worth US$17.96 billion last year, and this year’s target is $19.5 billion. The country is the second largest exporter of footwear, he said. Viet Nam imported … [Read more...] about Indian, Vietnamese leather companies seek stronger ties
Council for leather exports
India seeks to woo leather-footwear investors from Vietnam
India seeks to woo leather-footwear investors from Vietnam Van Nam and Ban Cao HCMC - India is calling for Vietnamese leather and footwear firms to explore business opportunities and set up shop in the South Asian country, Rafeeque Ahmed, chairman of India’s Council for Leather Exports, told a business matching session in HCMC last week. Ahmed said that under the high-profile “Make in India” program, the Indian government is paying more attention to the leather and footwear sector, so this is the right time for Vietnamese firms to come to set up shop to meet demands of India and exporting markets. Ahmed said Vietnamese leather and footwear businesses should not miss opportunities in a huge market like India. The size of India’s footwear market is US$6.5 billion this year and is forecast to rise to US$12 billion in 2020, he added. India is considered the world’s second-largest footwear producer with around 2.2 billion pairs each year and 95% of the … [Read more...] about India seeks to woo leather-footwear investors from Vietnam
Indian leather industry eyes huge Vietnamese market
Indian leather and footwear businesses have only recently discovered Viet Nam is a huge market while their Vietnamese counterparts import massive quantities of leather but little from India. A female worker produces sport shoes for domestic and foreign markets at Vinh Yen Shoes Company in Vinh Phuc Province's Vinh Yen City. Viet Nam imported US$5 billion of leather and accessories in 2015. Last year Viet Nam imported US$5 billion worth of leather and accessories, only 5 per cent of it from India, the second largest global producer of leather and footwear. Viet Nam exports 850 million pairs of shoes every year but faces a severe shortage of raw materials, especially processed leather. Diep Thanh Kiet, vice chairman of the Viet Nam Leather, Footwear and Handbag Association, asked his Indian counterparts at a meeting on Thursday on the sidelines of the 2016 Show and Leather Fair in HCM City attended by 41 Indian firms: "Indian leather has good price and quality; why cannot we buy … [Read more...] about Indian leather industry eyes huge Vietnamese market
Investment comes for support industries
In late January the Avery Dennison RBIs Company under Avery Dennison from the US, specializing in stamp labels, packaging, and decorative accessories for the textile, leather and footwear sectors, opened its second factory in Vietnam, at the Long Hau Industrial Park in the Mekong Delta’s Long An province, bringing its total investment to $40 million. The factory will provide labeling solutions to meet growing demand and at the same time support Vietnam’s garment sector to integrate into global supply chains. Avery Dennison RBIs is just one of many foreign companies stepping up its investment in support industries for Vietnam’s textile sector to seize the opportunities presented by the TPP and other free trade agreements. Never before has such a wave of investment in support industries for textiles been seen in Vietnam. Foreign investment rolls in After only six months in operation, the bonded warehouse of Huntsman Textile Effects under the Huntsman … [Read more...] about Investment comes for support industries
Vietnam: top destination for Middle Eastern investors
This was affirmed by a Kuwaiti businessman in a seminar entitled "Investment choices in Vietnam in 2008", held April 8 in Ho Chi Minh City. The major speaker in the seminar, he said that investment surveys for resorts and trade centers were being carried out in Ho Chi Minh City, Hanoi and Danang, and the first project will start this year. On the same day, the second seminar of the Council for France-Viet Nam Economic Co-operation Development (HCDCE) kicked off in Ho Chi Minh City. An important topic discussed in the seminar is the European Commission (EC) is about to reconsider Vietnam's Generalized System of Preferences (GSP) status on some commodities such as leather footwear and racing bikes. Vietnam will enjoy GSP until the end of August 2008; meanwhile the EC will meet in the end of June 2008 to decide whether or not to continue granting Vietnam GSP status for the coming three years. Mr. Pham Quang Thu, Deputy Head of the European Market Department under the Ministry of Industry … [Read more...] about Vietnam: top destination for Middle Eastern investors