CIEM launches report on circular business models

The Central Institute for Economic Management (CIEM), in collaboration with the Embassy of Denmark in Vietnam, hosted a launch workshop for a report on “Circular Business Models: International Experience and Application in Vietnam” in Hanoi on August 19.

The event announced the findings of a study on the current status of circular business models and recommendations to facilitate the development of these models in Vietnam.

Discussions focused on the importance of circular business, international experience in developing circular businesses and the current situation of this type of business model in Vietnam. A number of recommendations were also put forward to improve the regulatory framework.

Vietnam’s economic growth this year could reach up to 6.9% in the best-case scenario, according to CIEM.

Addressing the workshop, CIEM Deputy Director Nguyen Hoa Cuong said numerous Vietnamese enterprises have shifted to circular business models in accordance with regulations and policies in support of sustainable development. For example, the national strategy on green growth, the national action programme on sustainable production and consumption, and the national strategy on cleaner industrial production.

Many firms, including Vinamilk, Nestle, Coca Cola, and Lagom Vietnam have promoted circular models to make their business more sustainable, he said, adding that circular business models in the recycling sector have been put into operation, cultivating encouraging results.

Previously, CIEM announced during a Hanoi workshop organised on July 15 to launch a report on Vietnam’s economy in the first half of 2022, in which, Vietnam’s economic growth this year could reach up to 6.9% in the best-case scenario.

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