The journey of “turning waste into resources” and fostering a circular economy begins. More than just a competition, “Plastic Circular Innovation Solutions 2024” brings many superior solutions to the journey of combating plastic waste in Vietnam.

Promoting solidarity to combat plastic waste

For the first time, the Ministry of Natural Resources and Environment, Unilever Vietnam, BritCham, and the Vietnam Science and Technology Entrepreneurship Fund (SVF) co-organized the “Plastic Circular Innovation Solutions 2024” competition.

The event attracted over 500 individuals and organizations from various sectors, resulting in nearly 100 proposals showcasing innovative and breakthrough ideas.

Commenting on the current state of plastic waste, Deputy Minister of Natural Resources and Environment Le Cong Thanh stated: “Plastic waste is omnipresent, posing significant environmental challenges and affecting urban, rural, and marine ecosystems. It continues to endanger wildlife, disrupt ecosystems, and impact human health. Addressing this issue requires prompt and robust action from all sectors of society.”

Vietnam has made considerable efforts to reduce and combat plastic pollution, but broader societal involvement is essential to achieve significant progress. The “Innovative Plastic Circular Solutions 2024” competition aims to harness collective intelligence and talent for more effective processing, collection, and recycling of plastic waste.

Highlighting the achievements, Deputy Minister Le Cong Thanh remarked: “I am confident that the solutions proposed during this competition will have a meaningful impact on both the environment and the economy, supporting the implementation of Extended Producer Responsibility (EPR) and advancing the circular economy in Vietnam.”

From the perspective of a leading producer and consumer goods enterprise, Ms. Nguyen Thi Bich Van, General Director of Unilever Vietnam, underscored the importance of technological enhancements within businesses to develop more sustainable products.

Discussing Unilever's strides, Ms. Van revealed that the company has prioritized optimization at the product design stage to reduce virgin plastic and enhance recyclability, all while maintaining product quality and customer satisfaction. Unilever has successfully cut virgin plastic usage by over 50%, and 64% of its packaging is now recyclable.

As an organizer, Van stressed: “The Plastic Circular Innovation Competition is an opportunity to explore the circular economy's potential. Each participant here today is not merely a contestant but a trailblazer for a more sustainable future.”

A new chapter in turning waste into “gold”

Plastic, once hailed as a revolutionary invention, has evolved into a critical environmental concern.

Mr. Bui Quang Thinh, Deputy General Director of Tan Tien Packaging Joint Stock Company, described the “Innovative Plastic Circular Solutions 2024” contest as a pivotal step in Vietnam’s journey to reduce plastic waste. The participation of reputable units is a source of motivation for continued research and development in this field.

Notably, many solutions have been tested in practical settings, moving beyond theoretical concepts. Furthermore, recognition at this level brings valuable resources to teams, including expertise and funding, to refine and scale their solutions.

Ms. Nguyen Ngoc Nhu Uyen, Investment Director of Circulate Capital, emphasized the potential of the competition: “Many ideas stood out, such as bioplastic combined with microbial technology to create home-decomposable plastic materials. The concept of transforming multi-layer packaging waste into valuable products for industry and commerce was also impressive.”

Beyond funding, Uyen noted that investors like Circulate Capital offer strategic partnerships and technical support tailored to the specific needs of each project.

“Programs like ‘Plastic Circular Solutions 2024’ enable us to connect with innovative partners and explore investment opportunities. It has been an honor to accompany these teams and witness their development throughout the competition,” she added.

Spanning six months from inception to the award ceremony, “Plastic Circular Innovation Solutions 2024” has fostered significant community engagement and progress in the fight against plastic waste. By connecting projects with financial and business support, Vietnam can drive job creation, promote economic growth, protect the environment, and enhance the quality of life for its citizens.

PV