Vietnamese footwear exports to double
Footwear exports are expected to double by the end of this year, according to Nguyen Gia Thao, Chairman of Vietnamese Footwear Association. The industry has earned $1.36 billion in exports earlier this year and is expected to reach $2.8 billion by the end of the year. The 18-19% growth rate is a significant achievement in face of fierce competition, he said.
"If we want to have high added value, companies have to produce for themselves. But it requires large amounts of capital, and diverse markets and designs,” Thao said. As a result, most domestic companies use contracts and import raw materials to avoid risks and to ensure a profit.
Thao added that the association had devised a development strategy for the footwear industry which is awaiting government approval. Training skill enhancement of designers and marketing staff, such as sourcing of cheapest materials and high price sale ability, are the focus of the new development strategy.
