Vietnam approves circular economy development scheme

June 10, 2022 | 09:51

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Deputy Prime Minister Le Minh Khai signed Decision No.687/QD-TTg on June 7 approving the circular economy development scheme and setting a number of ambitious targets for the period ahead.

Vietnam approves circular economy development scheme

Businesses are heading towards circular economy development

The scheme aims to reduce the intensity of greenhouse gas emissions per GDP by at least 15 per cent by 2030 and supports the target of achieving net-zero emissions by 2050.

By 2025, the country also aims to reuse, recycle, and treat 85 per cent of plastic waste generated, reduce 50 per cent of the plastic waste in the seas and oceans, and reduce the volume of non-biodegradable plastic bags and disposable plastic products that are used in daily life.

The volume of municipal solid waste collected and treated in line with the standards and criteria of circular economy models should reach 50 per cent by 2030, with 100 per cent of urban organic waste and 70 per cent of rural organic waste being recycled.

The scheme's firm measures are set to increase community awareness about the circular economy and promote its development among businesses and residents.

The building of specific circular economy plans and integrating them into strategies in cities and provinces around the country is essential.

The other task is to boost cooperation with international partners and donors to seek opportunities to increase access to knowledge, expertise, and resources for circular economy development through specific projects, technology, and services.

The country will also intensify public-private dialogues about the circular economy to promote corporate social responsibility and help businesses solve their problems in this area.

Legal frameworks and policies to facilitate development will be completed for prioritised sectors so as to implement a pilot programme with the required human resources.

By Bich Thuy

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