Solar panels have been installed at many industrial parks, becoming an environmentally friendly source of power generation. (Photo: VNA) CIEM Director Tran Thi Hong Minh saidthe Prime Minister’s Decision 687/QD-TTg, issued in 2022, approving the plan oncircular economy development in Vietnam is one of the country’s first importantefforts to identify the road map, requirements, and orientations in this regard.
To soon develop a circular economyand benefit from it, it is particularly important to create momentum forbusinesses and investors to conduct digital transformation and invent circulareconomy models, especially in such potential sectors as agriculture, industry,energy, and construction material production, she noted.
Nguyen Anh Duong, head of the CIEM divisionfor general studies, said a circular economy will provide an impetus forinnovation and labour productivity improvement, which will help achieveeconomic prosperity, environmental sustainability, and social equality.
However, Vietnam is encountering considerable challenges, including naturalresource depletion, environmental pollution, and climate change, which arebecoming more complex amid the growing population, fast urbanisation andindustrialisation, and slow transition.
Facing those challenges, the country needsto have a more serious view of sustainable development requirements, enhanceits economy’s independence and self-reliance, and promote the resilience of supplychains. In particular, developing circular economy models is one of the importantsolutions and directions that many countries are adopting, Duong went on.
Minh said to give “vitality” to the policieson circular economy development, the traditional approach is necessary but insufficient, adding itis necessary to gain more momentum green recovery fostering efforts.
An importanttask in this regard is to build a decree on a regulatory sandbox for circulareconomy development. This decree is being drafted by the Ministry of Planningand Investment and will be submitted to the Government in the second quarter of2023.
The early formation of a solid legal basis for circular economy developmentwill also help implement relevant international cooperation commitments, sheadded.
The early formation of a solid legal basis for circular economy developmentwill also help implement relevant international cooperation commitments, sheadded.
With the facts pointed out and suggestionsraised at the seminar, CIEM hoped to propose an effective regulatory sandboxand help complete the draft decree in the time ahead./.
VNA
