Korean footwear firms to increase investment in Vietnam

Thursday, 2018-07-12 21:39:23
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Vietnam exported around US$14.67 billion worth of footwear last year, ranking second in the world. (Photo: VNA)
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NDO/VNA – Footwear enterprises from the Republic of Korea are operating effectively in Vietnam and their investment flows to the country are expected to increase strongly once the EU-Vietnam Free Trade Agreement is signed.

According to Lee Young Man, President of the Korean footwear association in Vietnam, more than 100 Korean businesses are operating in the field in Vietnam, with nearly 80% of them active in the southern province of Binh Duong.

The Korean footwear association in Vietnam has organised activities to enable businesses to exchange experience in order to increase competitiveness, he said.

At present, the association has 90 members and most of them are performing well. It aims to develop the membership to 120 this year.

According to the Vietnam Leather, Footwear and Handbag Association, Vietnam exported around US$14.67 billion worth of footwear last year, ranking second in the world.