Localisation Rate News Today

Policies are needed to boost the number of domestic enterprises participating in the supply chain of multinational companies, and a boost is necessary in the localisation rate of the processing and manufacturing industry, which now remain modest, insiders said.

Policies are needed to boost the number of domestic enterprises participating in the supply chain of multinational companies, and a boost is necessary in the localisation rate of the processing and manufacturing industry, which now remain modest, insiders said.

A stronger supporting industry and focus on boosting localisation rates is deemed a prerequisite to help brands increase production and also reduce costs.

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