Vietnam’s leather and footwear industry targets $27 billion in export turnover this year, a year-on-year increase of 10 per cent, according to the Vietnam Leather, Footwear and Handbag Association.

The sector plans to create 1.5 million jobs and contribute 6 per cent to the country’s total export revenue this year.

Under the strategy to develop garments, textiles, and footwear by 2030 with a vision to 2035, Vietnam aims to post $38-39 billion in export turnover from leather and footwear products by 2030.

The sector grew more than 30 per cent last year, with one major reason being the effective utilization of free trade agreements (FTAs). In recent years, the export of footwear and handbags to markets with an FTA with Vietnam has posted growth of between 10 and 20 per cent.