The Ministry of Industry and Trade held a seminar here last Friday to collect comments from experts and enterprises in the industry on the revised plan.
According to the revised plan’s overall objectives, the leather and footwear industry will develop at a high speed to maintain its position as one of the country’s key export industries and create more jobs with improved incomes for workers.
Implementing better corporate social responsibility and raising the number of trained labourers are other objectives of the project. Under the revised plan, the sector’s annual production value is expected to grow by 11.62 per cent in the 2016-20 period, 8.87 per cent in the 2021-25 period and 6.04 per cent in 2026-35 period. In addition, it would strive to achieve an annual export growth rate of 10-15 per cent in the 2016-20 period, eigt to nine per cent in the 2021-25 period and four to five per cent in the 2026-35 period, with export revenues expected to reach US$24-26 billion by 2020, US$35-38 billion by 2025 and US$50-60 billion by 2035.
It also targets to raise the local content rate in footwear products to 45 per cent by 2020, 47 per cent by 2025 and 55 per cent by 2035.