Want to be in the loop?
subscribe to
our notification
Business News
PROPOSAL TO BUILD FASHION MATERIALS HUB TO BOOST VIỆT NAM’S LEATHER, TEXTILE SECTORS
LEFASO, along with the Việt Nam Textile and Apparel Association and the Việt Nam Timber and Forest Products Association, jointly proposed the development of a 40-hectare centre dedicated to innovation and material supply for the fashion industry.
Nguyễn Thị Thanh Xuân, Vice Chairwoman and Secretary General of LEFASO, speaks at the government meeting on July 22. — Photo baochinhphu.vn
HÀ NỘI — The Vietnam Leather, Footwear and Handbag Association (LEFASO) has proposed establishing an innovation, R&D and trading centre for fashion materials in Việt Nam to strengthen the domestic supply chain and enhance the competitiveness of the country’s leather, footwear, textile and garment industries.
At a Government meeting on July 22, LEFASO Vice Chairwoman and Secretary General Nguyễn Thị Thanh Xuân said the leather and footwear sector still relies heavily on imported materials due to outsourcing. She stressed that building a local supply of raw materials is key to long-term growth and attracting more orders.
In response, LEFASO, along with the Việt Nam Textile and Apparel Association and the Việt Nam Timber and Forest Products Association, jointly proposed the development of a 40-hectare centre dedicated to innovation and material supply for the fashion industry. However, Xuân emphasised that breakthrough policies and strong Government support are necessary to bring the centre to life.
“Although new to Việt Nam, similar models have been successfully implemented in countries like China,” said Xuân. She expressed hope that Vietnamese trade offices and diplomatic missions abroad could help share international experiences and best practices to support the project’s development.
The proposed centre aims to diversify sources of materials, stimulate innovation in design and business models and streamline supply chains. It would not only serve domestic demand, but could also supply materials to other countries in the region like Indonesia, Cambodia and Bangladesh.
Xuân also called for the Ministry of Industry and Trade and other relevant agencies to design a comprehensive policy framework to encourage participation across sectors and establish a more self-sufficient fashion supply chain in Việt Nam. — BIZHUB
Source: VNS
Related News
MEMBER CORNER / PROMOTIONS
VIETNAM'S MANUFACTURING STORY HAS CHANGED IN 2026
Vietnam is no longer attracting investment solely because of its competitive costs. Today, global manufacturers are increasingly choosing Vietnam for its expanding industrial ecosystem, resilient supply chains and growing role in high-value sectors such as semiconductors, electronics and advanced manufacturing.
BANKING / FINANCE / INSURANCE / TAX
VIETNAM NEEDS OVER $200BN FROM STOCK MARKET IN NEXT 5 YEARS
Speaking at the event, Bui Hoang Hai, vice-chairman of the State Securities Commission of Vietnam, said total investment demand in the 2026-30 period is estimated at VND38,000 trillion ($1.4 trillion). The state budget can only provide approximately VND8,500 trillion ($323 billion), or 20 percent, leaving the remaining 80 percent to be sourced from private and international capital.
VIETNAM ECONOMY INVESTMENT
HUNG YEN BUILDS DIGITAL FOUNDATIONS TO DRIVE LONG-TERM GROWTH
From strengthening data infrastructure to developing AI platforms, Hung Yen province is enhancing governance capacity while laying the groundwork for the growth of its digital economy. Hung Yen, about 50-60km southeast of Hanoi, has maintained steady momentum in implementing its digital transformation agenda, creating a stronger foundation for the province to advance science, technology, and innovation.
VIETNAM ECONOMY INVESTMENT
CHINESE INVESTMENT WAVE OPENS NEW DOORS
As Chinese companies move beyond factory relocation to ecosystem-driven investment, Vietnam has a rare opportunity to evolve from a low-cost production base into a strategic node in regional value chains. When global companies first diversified supply chains, the focus was largely on relocating manufacturing capacity.
VIETNAM ECONOMY INVESTMENT
VIỆT NAM STEPS UP EXPORT TO ACHIEVE US$550-BILLION TARGET
Việt Nam is intensifying efforts to sustain export momentum in the second half of 2026 as the country works towards its target of US$550 billion in export revenue for the year, despite continuing uncertainties in global trade. Statistics show that exports reached $266.5 billion in the first six months, meaning the economy needs to generate around $245.5 billion more during the remainder of the year to meet the annual goal.
VIETNAM ECONOMY INVESTMENT
ASIA POWERS VIETNAM’S SHRIMP BOOM, LEAVING THE WEST BEHIND
In the first half of 2026, Vietnam's shrimp exports surpassed the US$2.3 billion mark, driven largely by booming demand from China and a lobster craze. But behind that growth figure lies a lopsided picture: Asia is carrying the load, while the U.S. and Europe have yet to break out. These days, a container of frozen shrimp leaving a Ho Chi Minh City port is more likely to cross the East Vietnam Sea to Shanghai than the Pacific to Los Angeles.
Events Sponsors
