Footwear profits are leaving Vietnam, warns Lefaso
15/05/2014
It exported $730 million worth of footwear in April, bringing 2014’s total to $2.9 billion.
However, the Viet Nam Leather and Footwear Association (LEFASO) has warned that with many of the footwear manufacturers owned by overseas groups, profits are leaving the country.
“This raises some issues that must be addressed by the Vietnam footwear industry in the near future, " it said. "We must work on strategies to increase the value added in nationally owned businesses, and make the most of the recent investment in upgrading technology and modernisation of the production chain.”
It also highlighted the dependency of the industry on imported materials as a potential problem.
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