Promoting a circular economy contributes to growth goals

Circular economy is associated with science, technology, innovation and digital transformation, so digital infrastructure is extremely important. This is the factor that helps to grow rapidly and sustainably.

On November 10, 2025, the Institute of Vietnam and World Economics (Vietnam Academy of Social Sciences) organized the Forum "Implementing circular economy in Vietnam: Policy and connecting actions".

In his opening speech, President of the Vietnam Academy of Social Sciences - Prof. Dr. Le Van Loi affirmed: “Circular economy is not only a trendy concept but also a new development architecture of Vietnam in dual transformation - digital transformation, green transformation. This is the inevitable path for us to reduce resource dependence, cut emissions, increase energy and material efficiency, and at the same time open up new markets, jobs and sustainable value chains”.

Associate Professor, Dr. Bui Quang Tuan - Former Director of the Institute of Vietnam and World Economics, said that our main goal is sustainable development (SD), but to achieve SD, there are three pillars: socio-economic, environmental and one more pillar, rarely mentioned, which is a separate institution for green economy. "Green economy will contribute very positively to SD and to have double-digit growth, it is necessary to strongly implement circular economy" - Associate Professor, Dr. Tuan emphasized.

He also said: “We must integrate and go hand in hand with growth, innovation and circular economy. Even the more we implement a green economy, the more   must go hand in hand with implementing high technology; To implement circular economy, we must pay attention to innovation and improve productivity. Obviously, circular economy plays a very important role in the economy, in double-digit growth.

Circular economy requires promoting linkages in production, which helps Vietnam participate more deeply in the global value chain - an issue that Vietnam is lacking and weak in; This also promotes reducing environmental pollution, reducing greenhouse gas emissions, thereby improving growth quality, responding to climate change and promoting a green innovation ecosystem. In particular, in the current new context, it is necessary to continue promoting a growth model based on quality and efficiency through innovative technology, digital transformation will be an important pillar.

According to Associate Professor Dr. Bui Quang Tuan, Vietnam now has quite a full awareness, very clear identification and quite complete major policies on green transformation. We have a strategy on sustainable development, a strategy on green growth, an action plan on green growth; then a national action plan to implement circular economy, a project to develop circular economy and most recently, implementing energy transformation through the adjusted power plan VIII.

However, to put major policies into practice, it is still necessary to continue to improve the legal framework and, in addition, reduce legal barriers and harmonize standards. "This is a huge challenge" - Associate Professor, Dr. Bui Quang Tuan assessed. At the same time, there needs to be a breakthrough in the implementation stage because in reality, Vietnam has had many strategies and action plans, but when summed up, they often "only do the cognitive part, the measurable products are very limited".

  In addition, Vietnam also needs to develop infrastructure, not only infrastructure for waste collection, classification, and recycling, but also digital infrastructure, digital platforms, and digital applications (AI, blockchain, etc.). "The circular economy is associated with science, technology, innovation, and digital transformation, so digital infrastructure is extremely important. Because this is the factor that helps us grow rapidly and sustainably," Associate Professor, Dr. Bui Quang Tuan noted.

The former Director of the Institute of World Economics emphasized that one of the very important solutions is how to get businesses to participate deeply in the process of implementing circular economy; to get businesses to invest more in science and technology, innovation, and R&D because currently only 15% of businesses carry out R&D, while this rate is up to 40% in many other countries.

According to Associate Professor Dr. Bui Quang Tuan, to practice circular economy, it is necessary to create a movement to bring higher awareness of circular economy to the masses. "To create a movement for people and businesses to implement green transformation, strong circular economy needs to emphasize the participation of the whole society, this is a very important factor in the implementation of circular economy in Vietnam" - Associate Professor Dr. Bui Quang Tuan said.

Source: https://baophapluat.vn/thuc-day-kinh-te-tuan-hoan-gop-phan-vao-muc-tieu-tang-truong.html