Green solutions for a sustainable economy

VCN - Circular economy is an economic model that aims to effectively use and save resources and recycle waste, contributing to both environmental protection and economic efficiency. Developing a circular economy is a key solution to innovate the model, improve growth quality, improve national competitiveness, ensure sustainable production and consumption, and contribute to the harmonious settlement of relationship between economics and the environment.

Key solutions for model innovation

Speaking at "Vietnam Circular Economy Forum 2023: Building a National Action Plan to implement Circular Economy" held on November 16, 2023, Deputy Minister of Natural Resources and Environment Vo Tuan Nhan said We know that circular economy is an economic model that aims to effectively use and save resources, recycle waste, both contributing to environmental protection and bringing economic efficiency. This is considered a " "green solutions" for a sustainable economy, is one of the world's important tasks.

Developing a circular economy is not only about reusing waste and considering waste as a resource, but also about connecting economic activities in a pre-calculated way, creating circular cycles in the economy. A circular economy can keep materials in use for as long as possible, recovering and regenerating products and materials at the end of each cycle of production or consumption. Developing a circular economy is a key solution to innovate the model, improve growth quality, improve national competitiveness, ensure sustainable production and consumption, and contribute to the harmonious settlement of relationship between economics and the environment.

In Vietnam, the Resolution of the 13th Party Congress affirmed the development of a green economy, low waste, mitigation of greenhouse gas emissions, and low carbon; Encourage the development of circular economic models for integrated and efficient use of output from the production process.

“Developing a circular economy is a key solution to innovate the model, improve growth quality, improve national competitiveness, ensure sustainable production and consumption, and contribute to a harmonious solution of the relationship between the economy and the environment", Deputy Minister of Natural Resources and Environment emphasized.

Forum view.
Forum view.

Promote the recycling industry, towards a circular economy

Pioneering in Vietnam in the initiative to build a circular economy in plastic waste management through the public-private partnership (PPP) model, Unilever has cooperated with the Ministry of Natural Resources and Environment and other partners to implement over the past 3 years, helping to classify at source, collect and recycle plastic waste.

Sharing about this initiative at the forum, Ms. Nguyen Thi Bich Van, President of Unilever Vietnam, said that the initiative aims to manage the product life cycle, improve sustainable raw material supply and raise awareness among consumers community and promote creativity on a national scale. This initiative originated from Unilever and its partners observing that every year Vietnam consumes 3 million tons of plastic but only collects and recycles 33% of those.

"In economic terms, we are losing nearly 70% of the value of plastic materials, equivalent to nearly 3 billion USD/year, at the same time, releasing plastic waste into the environment and polluting the living environment of the community. Therefore, to solve this problem, Vietnam must redirect the flow of plastic in the direction of circulation and return to serve human life instead of being discarded. Until now, Unilever Vietnam has about 63% of packaging which is recyclable or will easily decompose. At the same time, 52% of virgin plastic in packaging production is reduced thanks to direct reduction and use of recycled plastic.", Chairman Unilever Vietnam affirmed.

To promote the circular economy, Deputy Prime Minister Tran Hong Ha said that there needs to be a clear plan, specific goals and a great consensus of the entire society. At the same time, there needs to be a legal corridor for the formation and development of circular economic models associated with the responsibilities of all sectors in the economy. The state plays a constructive role, businesses are the central driving force, organizations and individuals participate in implementation. "Specific policies will be a foundation and launcher for businesses and industrial parks to practice circular business in the most effective way," the Deputy Prime Minister emphasized.

By Xuan Thao/ Phuong Linh

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