State-owned manufacturer Vietnam Leather and Shoe Corporation plans to build a US$7.5m plant in the country's northern province of Thai Binh.

The plant will include four production lines for sports shoes and another four lines for leather shoes.

It will be partially funded from the country's Central Development Assistance Fund (DAF).

Once production begins, all products made at the factory will be shipped to the US, EU and Japan. Annual export turnover will be around $38-40m, an official of the corporation said.

Vietnam Leather and Shoe Corporation in late June this year offered its 9.18m shares for sale in a bid to mobilise capital for such investment projects.

By Ngo Tuan.