Circular economy: Opportunities and Challenges for sustainable development of Vietnam

Abstract

In recent years, many countries around the world, through the Paris Agreement on Climate Change, have declared sustainable development goals, which emphasize the role of the Circular Economy model in poverty alleviation and poverty reduction economic growth combined with environmental regeneration. The circular economy is also identified as a target, and it also demonstrates Vietnam’s international responsibility in environmental protection, combating climate change, and helping businesses reduce risks of overproduction, scarce resources, creating motivation for investment, and technological innovation. This article will clarify the characteristics and role of the circular economy in sustainable development through studying experiences in some countries around the world, applying a theoretical framework to analyze the current situation in Vietnam. With opportunities from environmental protection policies, the Party’s lines
and policies have been synchronously implemented in recent years, the 4.0 technology revolution, and the participation in extensive economic and financial integration. However, Vietnam also faces many challenges in the process of implementing sustainable development goals such as resources for making the transition to a circular economy model, developing an ecosystem to implement a circular economy model