The leather and footwear industry will focus on products and quality of human resources, according to the new overall plan for the sector s development until 2020 with visions towards 2025.
The Minister of Industry and Trade (MoIT) recently ratified the overall development plan for the domestic leather and footwear industry.
The sector will target to boost export, dominate the domestic market, and boost auxiliary industries.
In the short term, by 2020, the leather and footwear sector will be converted into a spearhead export industry of the national economy, dominate the world market, generate more jobs and better working skills of employees.
The overall plan also defines that footwear remains a key product with an estimated output of 1.6 billion pairs. In addition, the sector will attach more importance to producing fashion leather shoes, briefcases, pockets, and wallets in order to occupy new markets.
The sector is supposed to earn a US $9.1 billion export turnover in 2015, US $14.5 billion in 2020, and US $21 billion in 2025.
Noticeably, Vi t Nam will raise the percentage of domestic input materials to 60-65% in 2015, 75-80% in 2020 and 80-85% in 2025.
To realize the overall plan, the sector will need VND 59,570 billion investment, of which 43% will come from domestic funds.
CITATION http://www.chinaleather.org/eng/show.php?itemid=5617
