Developing a Sustainable Circular Economy: A Study in Vietnam

Environmental pollution and depletion of natural resources are always a concern for many countries. Damage to the environment seriously affects human life and production activities become less effective. Therefore, each country needs to propose measures to solve difficulties and challenges, demonstrating the country's responsibility for environmental life. Applying the circular economic model instead of the linear economic model is the most effective solution today and is applied by many countries in the world. With the circular economy, waste from production activities will be classified, processed according to the process and become input materials for new production activities. To successfully apply this model, national law plays an important role in orienting, creating and regulating the behavior of entities carrying out production and business activities, in order to create a specific, complete and effective legal framework for promoting the circular economy. This article focuses on clarifying the importance of circular economy, analyzing and evaluating the current status of the law on circular economy and providing recommendations and solutions to contribute to improving Vietnamese law on circular economic activities. Circular economy is a systematic approach, requiring the participation and close coordination of economic entities. Vietnam has recognized circular economy as one of the solutions to improve management capacity, effectively use resources, protect the environment and respond to climate change. However, the transition to a circular economy in Vietnam still faces many difficulties such as institutions, policies, infrastructure, science and technology, operating mechanisms, markets, etc. The article presents the concept of circular economy, the difficulties in the transition from a linear economy to a circular economy in countries around the world, especially the advantages and difficulties in implementing circular economy in Vietnam today.