Vietnam is estimated to pour 9,153 billion Vietnamese dong (VND) (572.1 million U.S. dollars) into developing its footwear industry in the 2006-2010 period, in a move to reap footwear export revenues of 6.2 billion dollars in 2010.
Under an overall plan on developing the local industry by 2010 recently approved by the Ministry of Trade and Industry, the country has targeted production of 720 million pairs of shoes and sandals in 2010, according to local newspaper Vietnam Industry on Wednesday.
To this end, Vietnam will foster production of materials and accessories like leather, and performance of shoes producers and exporters nationwide, especially in Hanoi capital, central Da Nang city and southern Ho Chi Minh City.
Some 604 billion VND (37.8 million dollars) is to be spent on developing hide-tanning facilities between 2006 and 2010. In the five-year period, the local footwear industry is estimated to attract 347.8 million dollars worth of foreign direct investment.
Vietnam posted footwear export revenues of nearly 2.4 billion dollars in the first seven months of this year, up 14.4 percent against the same period of last year, according to the country's General Statistics Office. Its three largest markets are the European Union, the United States and Japan.
Source: Xinhua
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