Vietnam calls for co-operation between local and F - footwearbiz: Lead

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Vietnam calls for co-operation between local and FDI companies

21/01/2019
Vietnam’s government has set the country’s leather and footwear industry the target of bringing in export revenues of $21.5 billion in 2019.

This would represent an increase of 10% of the figure the industry appears to have achieved in 2018. Phan Thi Thanh Xuân, secretary general of industry association Lefaso, has told local media that confirmed figures for the first 11 months of 2018 of almost $17.7 billion, which is an increase of 8.4% compared to the same months in 2017. Lefaso’s projected full-year figure for 2018 is $19.5 billion.

Of that unconfirmed $19.5 billion, Lefaso has said $14 billion, almost 80% of the total, was contributed by foreign direct investment (FDI) manufacturers.

Commenting on the target for this year, Cao Quôc Hung, a minister in the department of industry and commerce, said supply chain improvements will be required if exporters are to be able to guarantee the reliability of products made in Vietnam. The minister said the government would like to see closer co-operation between FDI and local companies.

In 2014, there were disturbances in Vietnam because of political tensions in the region and rioters attacked and caused damage to factories run by FDI companies.

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