Vietnam suggested to join European Circular Economy Stakeholder Platform
Vietnam can take part in the European Circular Economy Stakeholder Platform (ECESP) to make use of Europe’s initiatives and experience in this regard, according to ECESP Vice President Cillian Lohan.
Brussels (VNA) – Vietnam can take part in the EuropeanCircular Economy Stakeholder Platform (ECESP) to make use of Europe’sinitiatives and experience in this regard, according to ECESP Vice President CillianLohan.
By joining the ECESP, Vietnam can also set up relations withthe parties to the platform to support the development of its circular economy,Lohan told the Vietnam News Agency on the sidelines of the annual ECESP conferenceheld in Brussels on February 27 and 28.
According to the recent Circularity Gap Report, the worldconsumes about 110 billion tonnes of materials each year and wastes over 90%,while only 7.2% is circular.
Arnaud Schwartz, head of the European Economic and SocialCommittee (EESC) Sustainable Development Observatory, said circular economicactivities haven’t been popular in the world, but they are being promoted tobecome the main trend of the future economy. The circular economy is an environmentallyfriendly one in which natural resources are renewable, metal resources sustainable, and overexploitation avoided.
To do that, it is necessary to produce goods from durable and repairable materials and can be used for a long time beforethey are recycled, he noted.
Launched in March 2017 as a joint initiative of the EuropeanCommission and the EESC, the ECESP has developed strongly and served as a modelof reference for enterprises. It gathers a number of climate and sustainabledevelopment initiatives helping members achieve all the Sustainable DevelopmentGoals./.
The transition towards a circular economy (CE) offers 4.5 trillion USD in economic opportunities globally by reducing waste, stimulating innovation, and creating employment, according to Ramla Khalidi, Resident Representative of UNDP in Vietnam.
A national action plan will be built to implement a circular economy to promote the management and efficient use of natural resources and reduce environmental pollution amid climate change in Vietnam by 2030.
The concept of a circular economy is relatively new in Vietnam but the southern province of Ba Ria-Vung Tau embarked on a circular economy development plan right from the beginning of the 2021-2025 economic development period, and Con Dao Island was the first district to implement the economic model.
Vietnamese small- and medium-sized enterprises (SMEs) have showed their limited participation in circular economy for both subjective and objective reasons, mostly related to resources, awareness, capacity and vision for benefits of circular economy, said Director of the Institute for Circular Economy Development (ICED) Asso. Prof. Dr. Nguyen Hong Quan.
The circular economy has begun to gain traction in Việt Nam for its potential to optimise resource use, stabilise supply, and offer competitive advantage opportunities for businesses.
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Illustrative image (Photo: VNA) 
