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Circular economy development

On June 7, 2022, the Prime Minister issued Decision 687/QD-TTg approving the project of developing circular economy in Vietnam. According to the Scheme, the circular economy model sets the goal of supporting the building of a green lifestyle, encouraging waste separation and promoting sustainable consumption. The project has set the goal of contributing to concretize the target of reducing greenhouse gas emission intensity per GDP by at least 15% by 2030 compared to 2014, towards the goal of net emissions to "zero" by 2020. 2050.

By 2025, the circular economy projects will initially be put into practice and bring into play their economic, social, technological and environmental efficiency; contribute to the recovery of renewable resources, reduce energy consumption, increase the share of renewable energy in total primary energy supply, the rate of forest cover, increase the rate of waste recycling, increase strengthen the localization rate of agricultural, forestry and fishery products and export industries.

By 2030, the circular economy projects will become a major driver in reducing primary energy consumption, achieving self-sufficiency in most or all renewable energy-based energy needs, and in increasing the proportion of renewable energy sources. forest cover rate.

The project has given other specific tasks and solutions to actively exchange with foreign donors and international organizations to seek opportunities to access knowledge, skills and resources for economic development. circular economy through specific pilot projects on the circular economy, projects on technologies and services (information technology, environment, etc.) friendly to the circular economy. Having mechanisms and policies to attract and use investment and human resource development in circular economy development. Completing the mechanism for industrial development and environmental services. Strengthen public-private dialogue on circular economy development, on the basis of promoting corporate social responsibility; find out and grasp the needs and problems of enterprises, thereby taking appropriate measures to remove and support or propose competent authorities to consider, remove and support at an appropriate level. Review and finalize the policy and legal framework to create conditions for the development of the circular economy. Research and review the current situation of circular economy development in a number of priority areas/can be piloted soon.

Circular economy development

The circular economy model contributes to improving the quality of life and people's resilience to climate change, ensuring equality in conditions and opportunities for capacity development, and improving labor productivity and efficiency. workers' income. Increasing awareness and investment interest of domestic and foreign enterprises and investors towards the circular economy model; promote the application of the circular economy model to promote the greening of economic sectors.

Decision 687/QD-TTg takes effect from June 7, 2022.


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