Us And EU Shoe Companies Face New Export Challenges

"The shoe industry is facing many difficulties at the moment, such as labor shortage and reduction of export orders," said Truong Thi Thuy Lien, President of shoe manufacturer Lien Phat, in a seminar to explore the footwear industry to overcome challenges and seize opportunities.

"The public debt crisis in the United States and the European Union has seriously affected the interests of consumers in these countries, leading to a reduction in export orders," Lien said.

It is understood that the number of exports from the US and EU markets in the first quarter of this year dropped by 15%-20% compared with last year.

In addition, labor-intensive industries are facing severe labor shortages.

Many footwear manufacturers are working hard to complete their export orders. However, many buyers have gradually not signed new contracts with them because they fear that the producers will not have enough workers to complete the products they need in the prescribed time.

"In order to overcome these difficulties, we have rebuilt the company's products, cut all unnecessary costs and studied our portfolio," Lien said.