Vietnam to Invest US$112.5Mln in Leather & Footwear Complexes
Vietnam’s leather and footwear industry will spend VND1.8 trillion (US$112.5 million) building leather and footwear industrial complexes nationwide between now and 2010, said the Vietnam Leather and Footwear Association (Lefaso).
The move will boost the development of the industry, Lefaso said.
Accordingly, the sector will pour money in developing infrastructure at the complexes in the north and the south, and build trade centers in Hanoi and Ho Chi Minh City which will help domestic garment businesses introduce their products to foreign partners right in the domestic market.
Currently, the footwear industry is Vietnam’s third biggest forex earner after crude oil and apparel. It is estimated to bring in US$3.56 billion from exports this year, an increase of 16.9 per cent against last year.
VNA, GSO
Vietnamese
