Nike will expand investment and production in Vietnam

Noel, Nike Chief Sustainability Officer, during the 26th UN Climate Change Conference held in Glasgow, UK on November 2, 2021 Kinder expressed to Vietnamese Prime Minister Pham Minh Chinh that it would expand investment and production in Vietnam.

Noel Kinder explained to Prime Minister Fan Mingzheng that more than 100 local Nike factories have resumed production after the continued outbreak of the new crown epidemic caused production shutdowns.

Prime Minister Pham Minh Zheng then asked about the company’s business situation in Vietnam, and pointed out that the Vietnamese government had previously adopted severe administrative measures to curb the spread of the virus, which to a certain extent Affect enterprise production and business. However, Vietnam has gradually reopened its economy as vaccination coverage increases.

Noel Kinder believes that the current situation has improved greatly and the company is planning to expand its business in Vietnam.

In October, Vietnamese officials responded to rumors that Nike planned to move production out of Vietnam. Phan Thi Thanh Xuan, vice chairman and secretary-general of Vietnam Leather, Footwear and Handbag Association (LEFASO), pointed out that this information is incorrect.

He affirmed that the complex development of the new coronavirus epidemic in Vietnam has affected the production of the textile, apparel and footwear industries. Nike has transferred some orders to other countries. But Nike has not moved production out of Vietnam.

According to Phan Thi Thanh Xuan, 88 of Nike’s 112 factories in Vietnam are located in the southeast region and produce many best-selling Nike sports shoe products.

Pham Tuan Anh, deputy director of the Industrial Bureau of the Ministry of Industry and Trade (MoIT) of Vietnam, reviewed Phan Thi Thanh Xuan and reviewed the recent discussions between the Vietnamese Prime Minister and foreign direct investment enterprises. A meeting, and said that Nike CEO confirmed at the meeting that Nike will not leave Vietnam.

MoIT statistics show that the export value of the footwear industry in the first nine months of 2021 was US$13.33 billion, an increase of 9.8% compared with the same period in 2020.

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