Vietnam develops strategic plan for the development of footwear industry

According to relevant media reports, at present, only 30 companies in Vietnam, including 5 foreign-funded enterprises, produce leather and shoe materials for the footwear industry, and only meet 30% of the domestic market demand.

Recently, the township government of the Vietnam Leather Association submitted a strategic plan for the development of the shoe industry and plans to propose that from now until 2020, Vietnam will focus on the development of the shoe industry and put forward its 2015 development plan.

According to the interpretation of the plan by Nguyen Duc Thuan, chairman of the Vietnam Leather and Leather Shoe Association, Vietnam will end its foreign dependence on shoe materials, technology and subcontracting. The plan predicts that by 2015, the footwear industry can earn 8.5 billion U.S. dollars from footwear exports. By 2020, the shoe country will increase its production rate from the current 50% to 65-75%, and its output value will reach 11 billion U.S. dollars.