Conference provides catalyst for Vietnam’s circular economy

This year, the event focused on the message of “Continuous Action” within the circular economy.

The VCEA Conference 2024, organised by CL2B Advisory, acted as a platform for advancing circular economy practices in Vietnam. The conference aimed to foster collaboration and dialogue among business leaders and professionals dedicated to the circular transition.

VCEA 2024 featured discussions on current challenges, real-world case studies, and lessons from leading experts in the field, ensuring the focus remained on practical, on-the-ground implementation.

According to Daniel Stork, consul general of the Netherlands, no matter how circular a country's economy becomes, it cannot reach its full potential if it develops alone.

"That is why the Netherlands is committed to sharing, inspiring, and working closely with other countries to create a better future together. We see great potential in cooperating with Vietnam, a country that has made remarkable progress in promoting the transition to a circular economy. By leveraging all our shared experience, expertise and innovative solutions, we can achieve even more together," said Stork.

Daniel Stork, consul general of the Netherlands

Nguyen Hoa Cuong, deputy director of the Central Institute for Economic Management (CIEM) under the Ministry of Planning and Investment, said that the government has assigned ministries, branches, and localities to implement contents related to the development of a circular economy.

Faced with increasing environmental pressures such as increasing waste and resource scarcity, the application of the circular model in Vietnam has become more urgent than ever. With the theme “Continuous Action”, this year’s VCEA event highlighted the importance of integrating circular initiatives and solutions into production and business activities, especially in areas such as industrial production, agriculture, packaging, and garments.

Circular economy in Vietnam

A report on the current situation and development strategy of the circular economy shows that Vietnam has formed new markets for environmental goods and services, secondary raw materials, environmentally friendly products, green jobs, and especially the capital market for the circular economy.

By June 2024, outstanding green credit had reached VND650.3 trillion ($27 billion), with more than 45 per cent for renewable energy projects and nearly 30 per cent for green agriculture. These investments play an important role in promoting circular economy initiatives in many fields.

Kim Le, founder and CEO of CL2B, said that CL2B is aiming for a future where economic growth is no longer tied to the risk of resource depletion – a regenerative economy, where nature and business thrive together.

“The circular economy is not only an opportunity to transform businesses, but also a necessary change in the way we think about socioeconomic development. Towards that future, we need to transform business models in an innovative way based on data and transparent policies. CL2B wants to lead that transformation by breaking down economic, social, and technological barriers based on respect and conservation of natural resources, while promoting social equity,” said Kim.

The report on the implementation and strategic direction for advancing the circular economy in Vietnam reveals the initial establishment of capital markets dedicated to this model.

The strategic partnership between CL2B and Rx Tradex has delivered significant impact for both events: VCEA 2024 and Waste & Recycling Vietnam Expo 2024.

The conference was held alongside the exhibition, creating a unique synergy between two major sustainability platforms.

This collaboration attracted new sectors, particularly in manufacturing, and increased the value of participation for attendees. By aligning VCEA with the Waste & Recycling Expo Vietnam 2024, both events gained a wider audience and greater impact, positioning themselves as the go-to platforms for driving sustainability initiatives in Vietnam.

“This partnership with CL2B to deliver VCEA 2024 enables us to create a more comprehensive experience for participants and bring deeper insights into the waste management and recycling ecosystem. We hope that the integration of two events strengthens the sustainability dialogue and accelerates the circular economy in Vietnam.” said Vu Trong Tai, general manager of Rx Tradex Vietnam.

Community activities

Recognising the vital role of consumers in the circular economy, VCEA 2024 engaged the public directly for the first time by partnering with local artists. This collaboration used artistic expression as a powerful tool for encouraging sustainability, inspiring the community and advancing circular economy practices.

In line with its theme of “Continuous Action”, VCEA 2024 extended its impact through two community-focused activities, from online to offline.

As an annual non-profit initiative, this year's sponsorship and event proceeds supported the Regeneration Art Exhibition.

Led by Vietnamese artist Nguyen Quoc Dan, the exhibit titled “Scrap Species” showcased how waste materials can be transformed into impactful art. The exhibition emphasised material regeneration and aimed to foster a deeper sense of responsibility for waste separation and environmental impact.

One of the key art installations will be open to the public from October 4-20 at SunLife De La Sol Exhibition Centre in Ho Chi Minh City.

Another activity, the Circular Momentum Podcast series, created an engaging platform for ongoing dialogue about the circular economy, featuring interviews with key thought leaders in the circular economy to spark further conversation and action. The six-episode series continues throughout the rest of the year, airing on CL2B’s YouTube channel.

Global initiatives for circular economy transition Chairman and CEO Jareeporn Jarukornsakul of WHA Corporation Public Co., Ltd. outlines five global initiatives, focusing on recycling resources in the production and consumption process through remanufacturing or reuse.

Circular agro-economy taking flight The Vietnamese agro-forestry-fishery sector is building its own circular economy through enhancing international cooperation and multi-sectoral coordination.

Promoting plastic waste collection and recycling towards a circular economy Suntory PepsiCo Vietnam, in tandem with VietCycle, held a training course on August 23 for informal workers who collect waste to show them how to classify everyday items that can be recycled.