Circular economy is becoming an inevitable trend and taking place strongly in many countries around the world, including Vietnam (Photo: VNA)

Hanoi (VNA) - Circulareconomy is becoming an inevitable trend and taking place strongly in manycountries around the world, including Vietnam, as the transition from thetraditional linear economy to a circular economy is considered an effectivesolution, helping to maintain economic growth and development as well asminimising negative impacts on the environment.

🔯 Businesses operating in the fast-movingconsumer goods industry (FMCG), including foodstuff and drink producers with such names as Nestlé and Coca Cola, are pioneering inthis regard.

According to Nguyen QuangVinh, Vice President of the Vietnam Chamber of Commerce and Industry (VCCI) andPresident of the Vietnam Business Council for Sustainable Development,90% of Vietnamese FMCG companies have shifted to a circular economy model. However, 82% of them haveadopted the model at a preliminary or average level.

The circular economy modelhelps production and processing businesses become more responsible andefficient through the development of resources, infrastructure, and newtechnologies while improving their competitiveness, increasing benefits fromrecycling activities and reduce costs related to waste discharge and resourceexploitation, he said.

꧅ The adoption of the circulareconomy model also brings positive impacts to society in terms of management, enhancingthe quality of the living environment and changing community awareness.

Vinh also pointed out that Vietnam has not issued a special policy or a national target programme on circulareconomy. Thus, fine-tuning institutions for the effective use of resources andenvironmental protection, especially for the circular economy, is veryimportant and urgent.

🌃 Binu Jacob, General Directorof Nestlé Vietnam, said that with the vision of becoming a global company withlocal connections and a pioneer in sustainable development, it hasbeen making continuous efforts to carry out solutions and initiatives in allaspects, including environment, society and governance, contributing to thecountry's socio-economic development.

Recently, Nestlé Vietnamcoordinated with the Ministry of Agriculture and Rural Development to promote regenerativeagriculture practices, low-emission agriculture, climate change response and step up technology transfer, research and development, digital transformation andmulti-party cooperation.

ꦐ Last year, the companylaunched a project on sustainable coffee farming in line with the agro-forestryinitiative in Vietnam to plant more than 2.3 million trees,contributing to reducing absorption and storage of about 480,000 tonnes of CO2 in the 2023 – 2027 period./.