Vietnamese shoe factories exhausted with sharply reduced orders and 3,000 factories facing relocation

In the past 9 months, the number of orders at the factories in Binh Duong province, Vietnam, has decreased by over 40% compared to the same period in 2022. To maintain production, the enterprises must make efforts to find orders.

Shoe factories, exhausted due to lack of orders, are facing relocation of 3,000 factories!

Currently, footwear and textile enterprises are exhausted due to interrupted orders. In order to survive, the government needs to create favorable policy conditions and reconsider relocating factories from the south to the north.

Regarding the concerns of nearly 3,000 companies about relocating factories from the south to the north, the Department of Industry and Trade in Binh Duong province stated that it will specifically consider appropriate policies and roadmaps, consider company relocation, change of functions, or the criteria for staying.

Wood industry orders plummet 60%.

Vietnam's wood processing industry in Binh Duong accounts for 40-45% of the national annual export revenue.

However, since the beginning of 2023, orders have decreased by as much as 60%, causing losses to businesses.

To survive, companies are doing their best, using accumulated funds to purchase raw materials for production and pay workers' wages. Companies are attempting to change their operational methods and reduce all costs of maintaining operations and retaining employees. On the other hand, businesses actively seek orders and lower prices to attract more customers.