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Ho Chi Minh City
Monday, October 25, 2021

Minister proposes five solutions to develop circular economy

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HCMC – Minister of Natural Resources and Environment Tran Hong Ha has proposed five solutions to develop the circular economy, stating that it is an indispensable trend in the context of the increasing exhaustion of natural resources, environmental pollution and climate change.

Delivering a report, “Building the circular economy in the 2021-2030 period”, at the 13th National Party Congress, Minister Ha said the country should consider developing the circular economy as an inevitable solution to improve its quality of growth and competitiveness and ensure sustainable production and consumption, the local media reported.

It is necessary to distribute, manage and use natural resources effectively, protect the environment and adapt to climate change, contributing to resolving social issues and creating jobs. The competent agencies should propose the Party Central Committee issue a resolution on developing the circular economy.

The second solution is to improve the strength of the entire political system, of which enterprises and residents will play the central role and to enhance the propaganda of roles, benefits and the importance of the circular economy.

Ha also suggested reviewing, amending, supplementing and issuing policies, strategies and regulations to boost the development of the circular economy in line with the Party’s direction and international regulations.

In addition, the country should foster the research and application of science and technology, with the digital transformation and achievements of the fourth industrial revolution being driving forces for the development of the circular economy.

Minister Ha proposed improving the country’s internal strength and taking advantage of international support to fulfill commitments, encourage enterprises, organizations and individuals to enhance their investment in the circular economy.

Firstly, regulations in the 2020 Law on Environmental Protection should be concretized.

According to the minister, the circular economy not only means recycling waste and considering waste as a resource but it is also a combination of economic activities to create circulars in the economy. The circular economy will bring more benefits to the country, society and enterprises than the traditional economy model.

Vietnam is facing multiple challenges, such as the exhaustion of natural resources, environmental pollution and climate change, which are forcing the country to convert to the circular economy model.

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