14:34 | 13/10/2015 Trade
The leather and footwear sector earned 8.8 billion USD from exports in the first nine months of this year, up 18.4 percent from the same period last year, reported the Saigon Giai Phong newspaper.
Workers are classifying shoes at Hai Phong Leather and Footwear Company (Source: VNA)
In the period, the sector produced 241.9 million pairs of shoes, an increase of 24.1 year-on-year.
According to the Vietnam Leather and Footwear Association (Lefaso), many of the industry’s enterprises have secured major export contracts thanks to the signing of a number of free trade agreements.
The sector targets to produce 280.2 million pairs of shoes and earn 14-15 billion USD from exports in all of 2015; rising to 314 million pairs and 16-17 billion USD in 2016.
It also aims to raise the rate of locally-made contents in finished products to 60-65 percent.
The Ministry of Industry and Trade called on footwear businesses to apply advanced technology in production in order to enhance product quality and design, meeting the demand of domestic and international markets.
Connectivity among enterprises should also be strengthened in tandem with enhancing management to ensure the sustainable development of the sector, it said.
Communication campaigns should be promoted to facilitate access to relevant free trade agreements while actively joining trade promotion events to expand potential markets, it added./.