Indonesian Footwear Industry Gets $170 Million Investment
In the first half of 2008, 25 shoemaking enterprises in Indonesia had invested 170 million US dollars, 21 of which were invested by China and Korea.
According to local institutional data, the 25 enterprises have absorbed 47 thousand labor force, and the annual output of shoes is up to 286 million 500 thousand pairs.
Indonesia's investment in shoe-making industry is due to a large number of high-quality raw materials in Indonesia, said Brady imawan, director general of the comprehensive industry bureau of the Indonesian industrial ministry.
Eddie Wichanaco, President of the Indonesian Footwear Association, said that the export of Indonesian footwear products will increase by 20% in 2008 and the export volume will reach US $1 billion 900 million.
He said Indonesia will become the world's fourth largest producer of shoe products after China, Vietnam and India.
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