In active response to the Politburo-adopted Resolution No 43-NQ/TW regarding Da Nang’s major developments to 2030 with a vision to 2045 dated 24 January, 2016, Da Nang will, by leaps and bounds, strive to make new remarkable strides. By 2030, Da Nang will have possessed a population of about 1.5 million people. The city’s GRDP is likely to account for more than 2% of the total Viet Nam's national GDP, and its export value is expected to make up for more than 2% of the national total.

Workers are on duty at the Da Nang Rubber Joint Stock Company

Besides, Da Nang will strive to record average annual economic growth of 12% during the 2021-2030 period, with the services accounting for 67-68% of the economic structure, industry and construction 31-32%, and agriculture 1%.

To realise these breakthroughs, Da Nang is gearing up to renew the growth model, restructure the economy, and especially, to restructure goods for exports on the basis of taking advantage of such globally notable free trade agreements as EVFTA and CPTTP. In particular, the circular economy, a modern economic model thought to be very suitable for Da Nang’s characteristics, must be given a lift to thrive further in the coming time

A circular economy (also referred to as circularity) is an economic system aimed at eliminating waste and the continual use of resources. Circular systems employ reuse, sharing, repair, refurbishment, remanufacturing and recycling to create a closed-loop system, minimising the use of resource inputs and the creation of waste, pollution and carbon emissions.

The circular economy aims to keep products, equipment and infrastructure in use for longer, thus improving the productivity of these resources. Waste materials and energy should become inputs for other processes: either a component or recovered resource for another industrial process or as regenerative resources for nature This regenerative approach is in contrast to the traditional linear economy, which has a “take, make, dispose” model of production.

Vietnamese businesses cannot stand outside the global circular economy, especially in the context of global economic integration with commitments on ecological and environmental safety standards through free trade agreements.

Promoting the circular economy for enterprises requires active innovation, investment in modern technology, limiting energy consumption and using raw materials to produce output products capable of being recycled.

Under Prime Minister Decision 889/QD-TTg dated 24 June, the program’s overall objective is to better manage, exploit and efficiently and sustainably use natural resources, fuels and materials; and promote the use of environmentally friendly materials and products which can be renewed, reused and recycled.

By 2030, all supermarkets and shopping malls nationwide will have to use biodegradable packaging materials, according to Viet Nam's national program of action on sustainable production and consumption during 2021-30.

The transition from a linear economic model to a cyclical economic model in order to ensure sustainable economic development is an inevitable and objective trend, an urgent need in the era of digital economy and Industry 4.0 in Viet Nam, and in Da Nang in particular.

The circular economy will prompt businesses across Da Nang to find the most effective possible solutions to promote the efficient use of natural resources and raw materials, create more environmentally friendly products, and items that can be reused and recycled, hereby heading towards building up a circular economy in Da Nang.

More recently, the Da Nang Business Incubator (DNES), in co-operation with the Accelerator Lab (AccLab) in Viet Nam, which is also part of the United Nations Development Programme (UNDP) global network of 90 AccLabs, has launched the Da Nang Circular Economy Hub and Boot Camp to support innovative projects in Da Nang, and Central Viet Nam as a whole.

The hub aims to help talented people with innovative projects in improving solid waste treatment and promoting sustainable consumption in communities in Central Viet Nam.

By Dr. LE DUC VIEN  - Translated by A.T