Vietnam's leather and footwear sector will strive to occupy the domestic market

Vietnam's leather and footwear sector will work hard to increase its share in the domestic market, ease reliance on the export market, and increase the localization rate of raw materials to 50%.

At the same time, Vietnam’s leather and footwear sector aims to achieve a 12% export growth rate this year, exports of footwear will reach US$7.3 billion, exports of handbags will reach US$1.5 billion, and Vietnam’s Vice Minister of Trade and Industry Min Nanhai 3 Held at a meeting in Hanoi on the 5th.

The Leather and Footwear Federation of Vietnam (LEFASO) said that the leather and footwear sector plans to supply nearly 70-75 million pairs of footwear products and 1600-1800 handbags to the domestic market this year, which will meet the domestic market by 55% and 64% respectively. demand.

To achieve this goal, it will once again consolidate Vietnam’s competitive advantages, maintain the traditional market, continue to improve its research and development capabilities, reform management and production technologies, and issue reasonable pricing policies.

Recently, the leather and footwear division will also expand its satellite production system away from major cities and use the best human resources in rural areas.

Statistics from the Ministry of Trade and Industry show that in February, footwear companies in Vietnam faced issues such as dependence on imported raw materials and lack of labor.

In the first two months of this year, Vietnam produced 8.7 million pairs of shoes, a year-on-year increase of 11.6%, and produced 45.6 million pairs of sports shoes, a decrease of 5.4% year-on-year.