The handbags industry must implement solutions on sustainable development to fulfil the goals in a development strategy for Vietnam's handbags industries to 2030, with a vision to 2035, according to experts.

This development strategy sets the goal of turning Vietnam into a country that produces export handbags, meeting requirements for sustainable development.

Vietnam also targets to reach a total export turnover of handbags and footwear of US$38-40 billion by 2030. The industry by 2035 will have sustainable development according to the green economy model, complete the domestic production value chain, and effectively participate in the global value chain. It will develop a number of regional and world brands.

Diệp Thành Kiệt, vice chairman of the Vietnam Leather, Footwear and Handbag Association (LEFASO), said that to achieve the goals of the strategy, Vietnamese handbags enterprises must focus on the standards of sustainable development.

At the same time, enterprises must develop their ability to design products and reduce production costs to the lowest level.

Meanwhile, the Government needs to issue policies on encouraging localisation of raw materials, and implementing the standards on sustainable development.

Sustainable development is not a burden, but an investment in opportunities for business in the future. Some businesses have received many orders after complying with the green production process.

Vietnam has many advantages, such as large export markets thanks to FTAs and domestic material supply at 50 per cent of demand. Besides that, almost all of the world's major handbags manufacturers have developed production facilities in Vietnam. However, this country needs solutions for green logistics, sourcing and faster shipping.

Vietnam's handbags industry also needs policies to encourage the application of artificial intelligence technology in production.

Additionally, Vietnam needs to restructure the handbag industry and apply sustainable production and business models that save production costs.