Promoting the development of a circular economy.

On October 14th, the Vietnam Packaging Recycling Alliance (PRO Vietnam) celebrated its 5th anniversary and organized a seminar titled "Opportunities and Challenges in Implementing the Circular Economy ".

Mr. Pham Phu Ngoc Trai, Chairman of the Vietnam Packaging Recycling Alliance, shared his thoughts at the event. Photo: MINH HAI

According to the organizers, over the past five years, PRO Vietnam has developed effective collection and recycling models for various types of packaging.

During the two-year trial period (2022-2023) before the EPR (Extended Responsibility of Manufacturers and Importers for Product Packaging) regulations officially came into effect, PRO Vietnam successfully collected and recycled over 17,000 tons of various types of packaging, contributing to reducing the burden of waste on the environment.

In 2024, when the EPR regulations come into effect, PRO Vietnam is committed to collecting and recycling approximately 64,000 tons of packaging materials authorized by its member businesses.

At the seminar "Opportunities and Challenges in Implementing the Circular Economy," several opinions suggested that the circular economy offers many benefits, such as creating more jobs for workers, ensuring sustainable development that brings long-term benefits to society and the environment, contributing to reducing risks for businesses regarding product oversupply and resource scarcity; creating incentives for investment, technological innovation, reducing production costs, and strengthening the supply chain.

However, the development of the circular economy is also facing challenges such as policy and tax support; a lack of innovative ideas; limited resources for businesses while infrastructure does not yet meet the requirements…

According to experts, the level of circular economy practice in Vietnam scores 7 out of 10 on a scale of 10; while awareness of the circular economy only scores 5 or 6.

Experts share their insights at the seminar. Photo: MINH HAI

Speaking with a reporter from SGGP newspaper, Associate Professor Dr. Nguyen Hong Quan, Director of the Institute for Circular Economy Development Research, said that in addition to institutional and financial difficulties, the development of the circular economy in Vietnam also faces obstacles from social factors such as the low level of awareness among businesses and people about the circular economy.

Innovation is the most important key to promoting a circular economy, and one of the requirements of a circular economy is to rethink and redesign actions and business processes. Therefore, authorities need solutions to help every citizen and business change their mindset about the circular economy.

Mr. Pham Phu Ngoc Trai, Chairman of the Vietnam Packaging Recycling Alliance, said that PRO Vietnam is not only a place where businesses cooperate and share packaging recycling goals, but also an alliance that transcends market competition, jointly developing innovative solutions to protect the environment and improve product lifecycles.

PRO Vietnam's member companies, ranging from large consumer businesses to collection and recycling units, have been working together to create a sustainable ecosystem, contributing to building a solid foundation for the circular economy model in Vietnam.

"In the coming years, PRO Vietnam hopes to continue its pioneering role, being an important factor contributing together with the business community and society as a whole towards a truly sustainable circular economy model," said Mr. Pham Phu Ngoc Trai.

MINH HAI

Source: https://www.sggp.org.vn/thuc-day-phat-trien-kinh-te-tuan-hoan-post763620.html