Viet Nam to launch raw materials center for textile and footwear in 2025
VGP – Viet Nam will launch a raw materials center for textile and footwear industry in 2025, official said.
The center is expected to help the Southeast Asian country to consolidate its domestic supply chain and reduce sole dependence on imports from other countries, according to Deputy Minister of Industry and Trade Phan Thi Thang.
Textile and footwear have long been Viet Nam's key sectors, with annual export turnover increasing by 10 percent, said Pham Anh Tuan, Deputy Director of Industry Department under the Ministry of Industry and Trade.
In the first six months this year, the export turnover of the two sectors reached US$30 billion, accounting for 16 percent of the nation's total export value and creating nearly five million jobs.
At present, manufacturers still rely on raw materials from foreign countries, especially China, South Korea and other ASEAN Member States.
The center will assist businesses in tracing the origins of raw materials, ensuring that all trades operate with high standards and transparency./.
