According to the Vietnam Leather, Footwear and Handbag Association, local manufacturers source around 55 per cent of their materials domestically, leaving the industry reliant on imports for the remainder. Vietnam's footwear market is projected to top 1.5 billion US dollars by 2033.
Trade promotion is expected to help achieve this growth by attracting investment in raw material production and connecting manufacturers with global suppliers and investors.
Stronger indigenous sourcing will not only reduce supply chain risks but also help businesses meet stricter sustainability and traceability requirements in major export markets.
