Circular Economic Development in the World and Lessons for Vietnam

The article examines the global development of the circular economy (CE) and draws critical lessons for Vietnam. It highlights how leading regions like the European Union, China, and the Netherlands have integrated CE into national policies, industrial strategies, and innovation systems to reduce waste, optimize resource use, and boost economic resilience. In contrast, developing countries are engaging with CE through groundbreaking efforts, though often hindered by limited institutional support. From these global experiences, the article identifies key pillars of successful CE implementation strong policy frameworks, innovation, partnerships, behavior change, and effective monitoring and urges Vietnam to transition from fragmented pilot projects to systemic, national circular strategies. The article stresses the importance of empowering local governments, investing in human capital, integrating informal workers, and designing context-specific solutions. Ultimately, it concludes that embracing the circular economy is not just an environmental necessity but a strategic path to sustainable growth and competitiveness, and that Vietnam must act decisively to seize this opportunity before it closes.