Cambodia

Footwear exports $1.3B in 2021 | Phnom Penh Post

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According to the chairman of the Cambodian Footwear Association (CFA), the export revenue of the Cambodian footwear industry will reach US$1.3 billion in 2021, an increase of more than 20% compared to the same period in 2020, and industry growth is expected to resume its pre-pandemic momentum in 2022.

CFA President Ly Kunthai told The Washington Post on April 5 that the increase was due to a combination of domestic and foreign factors, namely reduced concerns about the severity of the novel coronavirus’s Omicron variant, higher vaccination rates, and the reopening of countries. , stable income and gradual recovery of tourism.

He said that in 2021, the export trade volume of footwear products will reach 1.3 billion U.S. dollars, an increase of 20.4% over the previous year’s 1.08 billion U.S. dollars.

Due to these positive developments, footwear exports in 2022 are expected to exceed those in 2021, Kunthai said.

He cited the country’s receipt of sufficient and timely supplies of raw materials, especially from China, as a contributing factor to the country’s accelerated recovery, and predicted a “significant” increase in Cambodian footwear orders this year.

He also praised the new Cambodian Investment Law, which comes into effect at the end of 2021, and aims to improve the existing legal framework for investment incentives, providing “many attractive and favorable reasons” for investors to flock to Cambodia.

As a stable country with “good politics, favorable investment laws, a large adult workforce and affordable prices,” the kingdom is also likely to see more and more factories coming from countries like China and Myanmar, he said. move out. .

“By 2022, I think footwear export revenue will increase by 20-30% year-on-year, because as travel increases, so will the demand for footwear,” he added.

According to Kunthai, the biggest markets for Cambodian-made footwear are the US, Europe, Canada, the UK, Japan and other Asian countries.

During a meeting with CFA and the Cambodia Travel Goods and Leather Association last week, Minister of Industry, Science, Technology and Innovation Cham Prasidh said that despite being hit by the Covid-19 crisis, Cambodia’s footwear, luggage And exports of tourist goods are still on an upward trend, and the industry appears poised to continue attracting investment, according to an April 2 statement from the Ministry of Industry.

He pointed out that these positive factors stem from a combination of factors such as political and macroeconomic stability, a transparent investment system and incentives, especially in relation to preferential trade.

He added that the stability of the garment industry plays an important role in promoting Cambodia’s economic development and job creation.

However, in the pursuit of profits, Placid said factory owners and managers must ensure workers’ rights and needs are respected and met.

“All factory associations must seriously consider participating in the ILO (International Labor Organization) Better Factories Cambodia programme, which I set up in 1998 to improve working conditions in Cambodia and take a long-term view of reputation and future , Respect the rights of workers in Cambodia’s textile industry to win the trust of customers.

“Every factory must see this program as the foundation and key to its marketing,” he said.



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