circular economy

A Memorandum of Understanding (MoU) to build public private collaboration towards circular economy in plastic waste management was signed in Hanoi on February 19.

Vietnam generates large amounts of waste every day – food waste, construction waste, old clothes and furniture, batteries, plastic bags and much more.

Vietnam has been listed as one of the top five plastic polluters in the world, so eco-friendly technical solutions and the use of bio-degradable plastic products need urgent promotion.

Vietnam is among the countries with the highest GDP growth rates in the region.

Forming public-private partnerships is said to be a major solution for the development of the low-carbon circular economy in Vietnam.

Vietnam should act fast to switch to the circular economy, heard a workshop on promoting the no-carbon circular economy held in Hanoi on November 12.

The Vietnamese government has taken actions to tap the US$4.5-trillion market potential generated by circular economy, said an expert.

Tran Thi Binh, 60, who lives in Ha Noi, has no idea about the circular economy but now brings her canvas bag shopping instead of taking plastic bags from the supermarket.

The Ministry of Planning and Investment (MPI) is drawing up a plan to increase Vietnam’s national productivity, which remains at an alarmingly low rate compared with neighboring countries.

Many enterprises are trying the circular economy model to save input materials and strive for sustainable development, but progress is impeded by the lack of a leader.

Vietnamese businesses cannot stand outside the circular economy, especially in the context of global economic integration with commitments on ecological and environmental safety standards through free trade agreements.