Private Enterprises in Vietnam in the Circular Economy Aim for Sustainable Development

Circular economy is an economic model in which design, production, consumption and service activities aim to reduce the exploitation of raw materials and extend product life cycles, limit waste generated and minimize negative impacts on the environment. Circular economy is an inevitable trend and an important solution to help Vietnamese private enterprises develop sustainably. To successfully transition from a linear economic model to a circular economy, providing information for administrators to make decisions related to circular economy content needs to be given importance. In Vietnam, the private economic sector has a high contribution to the economy but faces many difficulties in production and business activities in a globally competitive environment. Therefore, to move towards sustainable development, private enterprises need to learn and convert production and business processes from a linear economic model to a circular economic model.