DOMESTIC footwear makers are endeavouring to ramp up production by 50 per cent in two years amid the dominance of foreign footwear in the market, according to the Myanmar Footwear Manufacturers Federation.
The domestic footwear industry is currently striving for resilience amid intensifying competition with foreign brands in the domestic market. The domestic industry holds only 25 per cent of the market share. U Kan Nyunt, president of the Myanmar Footwear Manufacturers Federation, made the remark during the meeting of Myanmar MSME Cluster Footwear Manufacturers Federation (Central) held on 12 July.
“The federation stated that Myanmar footwear manufacturers are endeavouring to win some market share against foreign brands made in China, Thailand and other countries that hold about 75 per cent of shares in the domestic market. Although Myanmar restricts foreign footwear, they are still dominating the market,” he explained about the market condition.
With the influx of foreign footwear in the market, the federation has forwarded a plan to increase domestic production by 50 per cent to meet the local demand, he added.
Domestic footwear factories are using up to 85 per cent of local raw materials, including locally produced rubber. Discussions regarding the implementation of a footwear industrial zone were also held to ensure the long-term, sustainable development of the domestic footwear industry. — TWA/KK
