Vietnam plans to develop the footwear industry as an important pillar industry by 2020
According to previous media reports, Vietnamese footwear exports in the first 10 months of this year reached US$4.06 billion, an increase of 24.8%. Nowadays, in order to promote the development of Vietnam's footwear industry, Vietnam Ministry of Industry and Trade recently issued a decision approving the development of Vietnam's footwear and leather industry to 2020 development plan and to 2025 outlook. It is reported that by 2020 Vietnam intends to develop the shoemaking and leather industry into one of the important pillar industries. The goal of growth is: By 2015, the export value of footwear will reach 9.1 billion U.S. dollars, 145 billion U.S. dollars in 2020, and 21 billion U.S. dollars in 2025. The goal of localization is to reach 60-65% in 2015, 75-80% in 2020, and 80-85% in 2025.
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