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Summary

12 COVER STORY
26 COVER STORY
Circular economy a solution Unlocking financial resources,

for sustainable development REPLICATING

G rowing a circular economy is a key solution to
innovating Vietnam’s growth model, improving
quality, efficiency, and competitiveness, raising CIRCULAR ECONOMY
workplace productivity, creating new, highly-effective value-
added chains, harmonizing the relationship between the INITIATIVES
economy and environmental protection, and contributing to
implementing commitments on conservation, biodiversity,
and net-zero emissions by 2050. The circular economy will
be integrated into all development strategies, plans, schemes, circular economy and green finance should be the focus
programs, and projects. Developing a green economy and a A in realizing the National Strategy on Green Growth for
circular economy are among the important directions in the 2021-2030 period and vision to 2050, according to
Vietnam’s socio-economic development policy. The Circular experts. However, the financial resources mobilized to
Economy Development Scheme has been approved by the implement the national strategy on climate change and green
Prime Minister, in Decision No. 687/QD-TTg dated June 7, growth remain low compared to actual needs. According to
2022, affirming that proactively developing a circular the Ministry of Planning and Investment, Vietnam needed
economy is an inexorable trend and consistent with about $60 billion to implement target programs on climate
requirements to create breakthroughs in economic recovery change and green growth in the 2016-2021 period, but the
and the implementation of UN Sustainable Development medium-term public investment plan only met some $26
Goals. The Scheme is a key measure in determining the billion. In order to implement the strategy, it is therefore
roadmap, requirements, and orientation for the development necessary to secure more capital from other channels.
of a circular economy in Vietnam. Mechanisms to encourage changes in production thinking and
shifting consumption towards circularity are being researched,
while solutions to unlock financial resources from carbon
21 COVER STORY
taxes, green credit, and green bonds are also being calculated.
Network connecting and Businesses can therefore feel more secure about testing
circular economy initiatives.
sharing green economic models

T he Vietnam Circular Economy Network was co- 28 DIGITAL BIZ
founded by the Ministry of Natural Resources and
Environment and the UN Development Program
(UNDP), with the embassies of the Finland, Netherlands, and
Norway cooperating in building the project, which has now
been in operation for more than one and a half years. Since
its inception, the Vietnam Circular Economy Network has
held many dialogues and contributed ideas to policy
development. By strengthening the dialogue on the circular Support for 4.0
economy, the Network contributes to perfecting institutions
and policies on the circular economy. One of its most telecommunications
important activities is actively preparing to negotiate a global
agreement on plastic pollution.
industry

T he distributed organizational model and the
comprehensive change in industry structure may be
the two main reasons why the telecommunications
industry’s efficiency has decreased. If Vietnam does not
rescue the industry, then those two bottlenecks will make
is extremely difficult for the country to stay abreast of the
4.0 era, which will then slow down the entire digital - green
- circular economy movement. When the digital economy
is growing slowly, it is will be difficult for digital society and
digital government to transform quickly. Vietnam needs to
prioritize shifting resources from traditional sectors to 4.0
science and technology expertise in a dynamic manner.

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