The Leather and Shoe Research Institute, has prepared a plan for development of Vietnam's footwear sector by 2020 and meeting the end target by 2025. The plan is to chase an export turnover of US $16.5 billion to be achieved by 2020. Nevertheless, many issues have been raised with regards to viability of the draft.
Bui Xuan Khu, Deputy Minister of Industry and Trade (MOIT) posed many questions concerning the draft. He held that the export target of $6.3 billion set for this year to be incredible, as last year's exports only accounted for $1.4 billion and a fall of 13 percent was revealed in comparison to 2008. Shrinkage in exports to US market was cited as a reason, for such fall.
He also informed that globally, the sector holds second position, next to China. Nonetheless, the issue was that whether leather shoes can originate as and grow into sector's leading export product, as sports shoes has the highest cut in Viet Nam.
Foreign direct-invested firms accounted for a huge share of canvas shoes and bags, Mr. Khu remarked. He suspected if the firms will carry on investing in the sector during next 10 years.
Issues were even raised regarding the availability of materials for the sector as most of it was being imported.
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