Vietnam Formulating Strategic Plan For Developing Shoe Material Industry

According to NguyenDucThuan, chairman of Vietnam leather shoes Association, Vietnam will end its dependence on shoes, technology and subcontracting.

The plan predicts that by 2015, the shoe material industry can earn 8 billion 500 million dollars from the export of footwear. By 2020, the domestic product rate of shoe materials will increase from the current 50% to 65-75%, and its output value can reach US $11 billion.

At present, only 30 enterprises in Vietnam, including 5 foreign-funded enterprises, produce leather and shoe materials for the shoe making industry, only 30% of the country.

In the first nine months of this year, the footwear industry gained 3 billion 600 million dollars in revenue from footwear exports, an increase of 23%. It is expected to reach 5 billion dollars by the end of this year.