Leather, footwear sector sets US$20 bln export target

According to the Vietnam Leather, Footwear and Handbag Association (LEFASO), the leather and footwear industry is destined to increase by 5% from one year earlier, with the localisation rate of 55%.  Footwear and handbags will remain Vietnam’s top four and 10 export items, respectively. In her remark at the conference, LEFASO Vice President Phan Thi Thanh Xuan highlighted positive signs in the world economy and growing consumption demand, which have provided favourable conditions and posed challenges to Vietnam’s exports and investment. To actualize the target, the association has been urged to engage in relevant policy making, attract more foreign and domestic investment in support industry, thus increasing the localisation rate and ensuring sustainable development. Trade promotion events, workshops, and training classes are planned to improve the management capability of enterprises, and attend international trade fairs, Thanh said. In 2017, the sector fetched US$18 billion from exports, a year-on-year rise of 10.7%.


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