According to the Vietnam Leather, Footwear and Handbag Association (LEFASO), the leather and footwear industry is expected to grow 5 percent from last year, with the localisation rate reaching 55 percent. Footwear and handbags will remain Vietnam’s top four and 10 exports, respectively.
Leather, footwear sector targets USD20 billion in export earnings (Source: VNA)Addressing the event, LEFASO Vice President Phan Thi Thanh Xuan highlighted positive signs in the world’s economy and increasing consumption demand, saying that these create both favourable conditions and challenges to Vietnam in exports and investment.
In order to help Vietnamese exporters realise the target, the association will actively participate in relevant policy making while luring foreign and domestic investment in support industry, thus increasing the localisation rate and ensuring sustainable development.
It will host trade promotion events, workshops, and training classes to improve the management capability of enterprises, and attend international trade fairs.
In 2017, the sector earned USD18 billion from exports, up 10.7 percent from 2016./.