As Vietnam pursues green growth and sustainable development, the circular economy has emerged as a critical pillar in the country’s new growth model.

Vietnam’s journey to net-zero emissions by 2050 requires a staggering $700 billion in funding - far beyond what banks alone can deliver.

The Ministry of Industry and Trade, with the Ministry of Finance and KOICA, held a workshop in Hanoi on September 25 to review an energy-saving investment project under Vietnam’s green growth plan.

A fixed 2% annual interest rate subsidy is proposed for the private enterprises, business households and individuals on loans for green, circular economy and environmental – social – governance (ESG) projects.

The industrial sector is entering a new era where “green growth”, “sustainable development,” and “digital transformation” are no longer abstract concepts but urgent requirements for survival and long-term success.

Adopting green production and consumption not only reduces negative environmental impacts but also secures long-term economic benefits, enhances the quality of people’s life and fosters a circular economy.

The lack of regulations and businesses’ reluctance to engage in environmental protection efforts have made it difficult for Vietnam’s e-commerce sector to transition to a greener model.

The world now views Vietnamese rice differently, leading to improved incomes for farmers. This is similar to the perspective of young people captured in the song 'Rock Hat Gao' (Rice Grain Rock).

Vietnam is set to pilot its carbon market operations in the second half of 2025, aiming to establish a foundation for sustainable emission reduction and green growth.