Competition focuses on fostering circular economy

Organised by the Ministry of Natural Resources and Environment, Unilever Vietnam, BritCham, and the Vietnam Science and Technology Entrepreneurship Fund (SVF), 'Plastic Circular Innovation Solution 2024' attracted more than 500 individuals and organisations from many fields to participate, with nearly 100 proposals for solutions and breakthrough ideas.

Deputy minister of Natural Resources and Environment Le Cong Thanh said, " Plastic waste is everywhere, negatively affecting the environment, deeply affecting everywhere from urban areas to rural areas and even the ocean. This requires the whole of society to take timely and more drastic actions to minimise its impact."

Deputy minister of Natural Resources and Environment, Le Cong Thanh

Vietnam has made efforts to realise the goals of reducing and combating plastic waste pollution. However, more support from the whole society is needed in this effort. The contest “Plastic Circular Innovation Solutions 2024” aims to mobilise more intelligence and talent from the whole society to process, collect and recycle plastic.

Deputy Minister Le Cong Thanh said, “I believe that the solutions proposed in the competition will create a significant positive impact on the environment and the economy, contributing to supporting the implementation of Extended Producer Responsibility (and promoting the circular economy in Vietnam.”

From the perspective of a leading enterprise in the field of production and consumption, Nguyen Thi Bich Van, Chairwoman of Unilever Vietnam, affirmed the importance of improving technology within each enterprise to have more friendly products.

Sharing about the changes at Unilever, Van said that from the product packaging design stage, the company has sought to optimise to reduce virgin plastic and increase recyclability while still ensuring product quality and consumer experience. To date, Unilever has reduced more than 50 per cent of virgin plastic, 64 per cent of Unilever's packaging is recyclable.

Chairwoman of Unilever Vietnam

As the organiser, Nguyen Thi Bich Van said, “Plastic Circular Innovation Solutions 2024 is a place for us to explore the potential of the circular economy together. Each of you participating in the competition is not just a contestant, you are a pioneer, paving the way for a greener future.”

From a revolutionary invention for human life, plastic has now become an urgent environmental issue.

Bui Quang Thinh, deputy general director of Tan Tien Packaging JSC, assessed the contest as the beginning of the journey to reduce plastic waste in Vietnam, when the participating units are all trustworthy and also the motivation for individuals and units to continue researching and developing this field.

Experts highly appreciate the solutions that made it to the final round.

It is encouraging that many have been tested in practice, not just as a test. On the other hand, being recognised also brings valuable resources to the teams, both in terms of expertise and finance, to complete and widely apply in life.

From the perspective of an investor, Nguyen Ngoc Nhu Uyen, investment director of Circulate Capital said, “There are many potential and highly appreciated ideas, such as the idea of ​​​​bioplastic combined with microbial technology, thereby creating a plastic material that can self-decompose at home to replace traditional plastic. The solution to transform multi-layer packaging at the end of its life cycle into a valuable product for application in industry, construction, and commerce is also an impressive entry.”

In addition to providing funding, Nhu Uyen said investors like Circulate Capital can contribute to supporting the development and completion of expansion plans; facilitate access to and cooperation with strategic partners to build ESG/sustainability capacity and provide technical support appropriate to project needs.

“For investors, the 'Plastic Circular Innovation Solutions 2024' programme help us connect with several partners and explore investment and partnership opportunities. We are honoured to accompany the teams and see them make progress through the rounds,” Nhu Uyen said.

Through a journey lasting half a year from the idea launch to the award ceremony, “Plastic Circular Innovation Solutions 2024" has brought positive changes to the community in joining hands to combat plastic waste. When ideas and projects are connected with support from financial institutions and businesses, Vietnam can create many new jobs, promote growth, economic development, protect the environment and improve the quality of life of the people.

Unilever Vietnam embracing circular economic benefits With only one-third of plastic waste being recycled, Vietnam is losing nearly 70 per cent of the value of plastic materials, equivalent to nearly $2.2-2.9 billion a year, because of disposal into the environment.

Unilever consistent in sustainability in Vietnam Unilever’s journey of more than 100 years of global development and nearly 30 years in the Vietnamese market has left impressive achievements in sustainable business, worthy of the position of top global sustainable development enterprise.

Unilever Vietnam striving to implement sustainable EPR The active cooperation between Unilever and various recyclers and collectors regarding extended producer responsibility regulations has cemented its determination to promote the plastic economy and accelerate sustainable development.