Lefaso rejects rumours on Nike’s moving production out of Vietnam
Recent rumours spreading on social media on Nike’s moving production out of Vietnam to China and Indonesia are incorrect, stated Phan Thi Thanh Xuan, Vice Chairwoman and General Secretary of the Vietnam Leather and Footwear Association (Lefaso).
Hanoi (VNA) – Recent rumours spreading on social media on Nike’s movingproduction out of Vietnam to China and Indonesia are incorrect, stated Phan ThiThanh Xuan, Vice Chairwoman and General Secretary of the Vietnam Leather andFootwear Association (Lefaso).
Xuan informed that 88 out of Nike's 112 factories in Vietnamare located in the Southeast region, which produce many best-selling Nike-brandedsneaker products.
She said complicated developments of COVID-19 in Vietnam haveaffected the production activities of enterprises in the garment-textile andfootwear industries, and Nike has moved a number of orders to other countries. However, there is no such thing like Nike is moving production out of Vietnam, she affirmed.
Pham Tuan Anh, Deputy Director of the Ministry of Industryand Trade (MoIT)’s Industry Agency, echoed Xuan’s rejection.
According to him, in the past period, some orders of the company were due, so in order to deliver the goods on time, Nike has moved these ordersto their factories in some other countries. Anh noted that in a recent meeting with the VietnamesePrime Minister and ministries, the CEO of Nike affirmed that Nike will not leaveVietnam.
According to the MoIT, in the first ninemonths of 2021, the footwear industry's exports of all kinds were estimated toreel in 13.33 billion USD, up 9.8 percent over the same period last year./.
Foreign direct investment (FDI) firms, rather than the domestic ones, are able to fully tap the production shift of large brands, according to industry insiders.
Vietnam is likely to remain foreign investors’ favoured destination despite the COVID-19 resurgence ravaging across the country, The Australia Financial Review (ARF) said in a story published earlier this week.
Integration with global manufacturing has helped keep Vietnam’s economy humming during the pandemic, according to an article published on news site The Economist on August 30.
Vietnam sets sight on rapid and sustainable socio-economic development with a long-term vision to 2030 and 2045, National Assembly Chairman Vuong Dinh Hue told a Vietnam – Belgium business forum on September 9.
Despite a decrease in foreign direct investment (FDI) inflows into Vietnam in recent months due to the impact of the COVID-19 pandemic, economists assessed Vietnam remains attractive to foreign investors and needs to take advantage of FDI attraction opportunities to boost economic growth.
China’s Laoling city, in coordination with VINEXAD, hosted a series of events in Ho Chi Minh City from August 7-9 to seek trade and economic cooperation with Vietnam.
Vietnamese Ambassador to Cambodia Nguyen Minh Vu led a delegation to Mondulkiri, Ratanakiri, and Kratie provinces from August 5-8, aiming to deepen economic ties and support Vietnamese businesses operating in Cambodia’s northeastern region.
Party General Secretary To Lam’s upcoming state visit to the Republic of Korea (RoK) is expected to mark a new milestone in the bilateral relationship, creating fresh momentum for trade and investment cooperation between the two countries.
In the context of the growing global digital economy, digital transformation and the promotion of e-commerce are key drivers helping Vietnam boost integration, enhance competitiveness, and expand export markets, according to the Vietnam E-commerce and Digital Economy Agency
Tilapia is considered highly competitive in export markets thanks to its affordability, ease of processing, and appeal across both high-end and mass-market segments.
In the first seven months of the year, Phu Tho attracted an impressive 651.7 million USD in foreign direct investment, including 35 newly licensed projects totaling 119 million USD in registered capital and 45 existing projects with an additional capital of 533 million USD.
Under the agreements, VinEnergo will invest in, install, and operate 43 MWp of rooftop solar power capacity and 45 MWh of BESS capacity across the three plants.
Under a draft to amend and supplement the Government's Decree 125/2020/ND-CP on administrative sanctions for violations of tax and invoice regulations, the Ministry of Finance has proposed classifying the failure to issue invoices into five different levels. Infraction levels will correspond to fines of 1 million VND to 80 million VND, depending on the nature and number of invoicing violations.
A new airline developed and invested by Sun Group — has officially announced a strategic partnership with Amadeus IT Group (Amadeus), one of the world’s leading travel technology companies. This agreement not only lays the foundation for a modern digital infrastructure but also marks a pivotal step in SPA’s global expansion strategy, enabling the airline to access international distribution networks and reach customers worldwide.
Of the total, 107,700 were new firms, with combined registered capital of 928.4 trillion VND (35.4 billion USD), up 10.6% in number and 5.5% in capital compared with the same period last year.
Experts agree that a combination of technology, enforcement, education and cross-border cooperation is essential to protect copyrighted content in Vietnam’s growing digital ecosystem.
Poland is Vietnam’s largest export market in Central and Eastern Europe, with key staples including seafood, textiles, footwear, coffee, and cashew nuts.
Cashless payments are growing at an impressive rate, averaging 30–40% annually. Vietnam’s per capita cashless transaction volume now trails only China, with total value of 295.2 quadrillion VND (11.26 trillion USD), or 26 times of its GDP.
A draft resolution on piloting a digital asset and cryptocurrency market is being developed, aiming to create a broad-enough regulatory sandbox that enables investor participation and provides practical grounds for policy refinement in areas such as risk management and anti-money laundering.
Illustrative photo (Source: Theplusnews) 
