Vietnam Footwear Exports Earn US$2.7Bln in Jan-August

Vietnam is estimated to earn US$2.7 billion from footwear export in the first eight months this year, up 14.3 per cent on-year, according to the government's General Statistics Office.

 

In August, the footwear makers obtained US$390 million, down 48 per cent on-month, it noted. However, it did not provide the reason for the sharp fall in the month.

 

Vietnam targets to produce 720 million pairs of shoes in 2010, said Deputy Industry and Trade Minister, Bui Xuan Khu. The country is expected to make export earnings of US$6.2 billion by then.

 

To realize the goals, Vietnam will invest VND9.2 trillion (US$572 million) to boost up production scale of this industry for the next three years.

 

The country will invest VND600 billion (US$37.5 million) in tanned leather projects in three modern processing centers namely Hanoi, HCM City and Danang City with an aim to boost output and product quality, according to the Vietnam Leather and Footwear Association. (GSO Aug Edition, Vietnam Panorama)