By September, the leather and footwear industry had reached a growth rate of $550-640 million per month over four consecutive months, the office said.
Growth was mainly due to the abolishment of an anti-dumping tax related to leather-upper shoes made in Viet Namfrom April on the European Union market, importers accordingly shifting their orders from China to Viet Nam because of a 16.5 per cent tax still applied in the former.
However, many domestic export leather and footwear producers have not yet dared to take orders because of high input costs and increased salaries, said Nguyen Thi Tong, general secretary of the Viet Nam Leather and Footwear Association (Lefaso).
So far, producers have received enough export orders to last until the end of this year alongside contracts already negotiated for 2012, he said.
The industry expects to reach a total export value of $6 billion this year, Tong said, adding that, in order to reach the target, production lines would need to be expanded while product quality was enhanced.
To improve enterprise competitiveness, the domestic market would additionally need just as much attention as the export one, she said.
According to the Ministry of Industry and Trade, the industry has set up targeted export values of $9.1 billion for 2015, $14.5 billion for 2020 and $21 billion for 2025.
The industry expects to reach an average export value growth rate of 10.9 per cent per year in 2011-15, 9.7 per cent during 2016-20 and 9.7 per cent from 2021-25.