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Strategy to develop leather & footwear sector
12
Oct '10
A sector development strategy, for the period 2010-2020 with a vision to focus on the support and material industries, has been submitted by the Vietnam Leather and Footwear Association (Lefaso) to the Government.

To make the sector independent of foreign materials and technologies as well as to acquire the direct contracting mode rather than sub-contracting mode, are the key objectives behind planning such a strategy, said Lefaso President Mr. Nguyen Duc Thuan.

Moreover, to make the industry free from material scarcity that has affected the sector for many years, owing to the lack of support industry, is also an objective, added Mr. Thuan.

The sector, under this strategy, will need VND18.8 trillion i.e. US $989 million to produce shoe trees and footwear models, as well as to diversify the production of materials such as leather and leatherette.

It is anticipated that the sector would generate $ 8.5 billion through exports by the year 2015 and $11 billion by 2020. It will also help improve localization rates to 65-75 percent from the current 50 percent.

In the country there are only 30 enterprises producing tanned leather, which include five enterprises with foreign investment capital. Only 30 percent of the requirements of domestic footwear enterprises can be fulfilled through these 30 enterprises.

Lefaso has undertaken a number of promotional activities to improve exports which include hosting the 29th international conference of the Asian footwear sector and the international fair for footwear materials and machines.

Shoe makers of the country now have many export orders till the first quarter of next year as customer base is now focusing on Vietnam, rather than China. Exports of this sector that witnessed a year-on-year increase of 23 percent, have garnered $3.6 billion during initial nine months of the current year.

By the year end, the export revenue is estimate to exceed $5 billion.

Fibre2fashion News Desk - India


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