With local businesses taking full advantage of various free trade agreements (FTAs), the leather and footwear industry is projected to fulfill the export goal of between US$26 billion and US$27 billion this year.

Export revenue of the leather, footwear and handbag sector is predicted to hit 26-27 billion USD in 2024 on the basis of the positive results seen so far, according to the Vietnam Leather, Footwear and Handbag Association (LEFASO).

Vietnam ranks second in the world in footwear exports with an estimated export volume accounting for 10% of the world’s overall market share, according to the General Department of Vietnam Customs.

Vietnam is the second largest exporter of footwear in the world, with its estimated export volume accounting for 10% of the world’s market share.

Despite the gloomy gloomy outlook of the global economic, Vietnamese exporters of yarn, garment, textile, and leather shoes are still seeing a brighter future as robust signs are looming on the horizon.

The footwear industry must implement solutions on sustainable development to fulfil the goals in a development strategy for Vietnam's garment-textile and footwear industries to 2030, with a vision to 2035, according to experts.

The Leather Summit 2023 will be held at the famous Craft Village Cluster in Phu Yen commune and Thon That Craft Village, Minh Duc commune, Hanoi on March 1.

The leather and footwear industry is striving to reach US$27 billion in export turnover in 2023, an increase of about 10% compared to one year earlier amid shrinking major markets and falling demand.