The province of Ninh Thuáºn in southern Vietnam has become the country’s leading location for renewable energy. To achieve a circular economy, the Party and State have prioritized its development, aiming to reduce waste, use resources efficiently, and protect the environment. The 2020 Law on Environmental Protection and subsequent decrees outline key principles and criteria for a circular economy, as well as responsibilities and implementation timelines. Experts agree that technology and capital are crucial for the transition, with science and technology necessary for environmental and economic sustainability. Businesses, especially small and medium-sized enterprises, face challenges accessing capital, with procedural and accessibility issues. To address this, the government has implemented funding programs and preferential interest rates for green transition. A national action plan for circular economy development is being drafted, with a focus on priority sectors, industries, and products, and measurable targets to 2030 and 2035. To accelerate the transition, Vietnam should prioritize eco-design, measurable targets, innovation, and competitiveness, with a focus on key sectors and institutions. A collective societal effort, with people and social equity at its core, is necessary for a successful circular economy.
transitioning to a circular economy to drive sustainable development and meet global goals
