Footwear industry targets 15 percent annual growth

Workers make sport shoes at a footwear firm. (Photo: TT)

Footwear companies said they target a growth of 10-15 percent a year for the next two years at a forum held in Ho Chi Minh City August 27 to promote footwear exports.

But this year revenues fell in the first eight months to $2.8 billion, or $327 million lower year on year, Nguyen Duc Tuan, chairman of the Vietnam Leather and Footwear Association, said.

With a slump in exports to the EU, full-year revenues are expected to be $4.6 billion, $100 million lower than last year.

On the same day, a leather and footwear exhibition was held at the Saigon Exhibition & Convention Center in District 7. It was attended by 70 local and 15 foreign firms who exhibited materials and machinery for making footwear as well as their products.

By M.Hanh – Translated by Thuy Doan

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