Vietnam targets leather and footwear exports of $2 - footwearbiz: Lead

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Vietnam targets leather and footwear exports of $26 billion by 2020

12/04/2017
Vietnam’s Ministry of Industry and Trade (MoIT) has released a revised plan for the development of the country’s leather and footwear industry. It extends until 2025, with a vision to 2035.

The MoIT expects the industry to continue to develop at a high speed, which will see it maintain its position as a key export industry for Vietnam. It is also predicted to create more jobs, which will offer better income for workers. 

The government hopes that exports of leather and footwear from the country will increase 10-15% per year between 2016 and 2020, 8-9% per year between 2021 and 2025, and 4-5% per year between 2026 and 2030. This would result in export revenues of $24-26 billion in 2020, $35-38 billion in 2025 and $50-60 billion in 2035. 

The plan also calls for an increase in the percentage of local content in footwear products exported from Vietnam. It wants this to increase to 45% by 2020, 47% by 2025 and 55% by 2035.

Related stories:

Vietnam wants to export 2 billion pairs of shoes by 2025 17/03/2017
Vietnamese industry has $18 billion export target 15/02/2017
SGS expands testing capabilities in Vietnam 23/01/2017
Paiho to manufacture footwear materials in Vietnam 05/01/2017
Vietnam looks set to miss footwear export target 04/01/2017
No TPP ratification for Vietnam this year 02/11/2016
Strategy report predicts workforce shortage issues for Vietnam 10/08/2016

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