Viet Nam has become an attractive destination for Italia’s leading footwear companies to build factories, according to Italian daily newspaper Sole 24 ore.
Under the title "Italian footwear industry chooses Viet Nam",Italian daily newspaper Sole 24 oresaid that Coronet,one of the biggest footwear production companies in Italy, has recently decided to move its factory from Guangdong province (China) to Viet Nam.
It also added that such choice comes from a number of reasons, especially the rising production cost and employee pay in China. Meanwhile, the production cost in Viet Nam is more stable and its workforce with higher capacity and working motivation is available.
Along with the rapid development of its footwear companies nearby Ha Noi and Ho Chi Minh City, Viet Nam currently ranks 5th among the world's largest exporters, with total revenue of up to US$7.25 billion.
Alberto Vettoretti, an expert from Italian Dezan Shira and Associates Company which is operating in Viet Nam, said the FTA between ASEAN and China, Japan and the Republic of Korea and price advantages will help Viet Nam raise its competitive edge in the Asian market where all Italian businesses wish to profit from investing in the country./.