The Academy of Managers for Construction and Cities (AMC) under the Vietnamese Ministry of Construction, in collaboration with the Friedrich-Ebert-Stiftung (FES) Viet Nam on Tuesday held a seminar entitled ‘Circular economy, factors key to sustainable urban development in Viet Nam’ in the online and offline forms.

The event saw the participation of many experts and managers from cities nationwide, offering them a chance to gain a deeper insight into knowledge related to circular economy, the legal framework on the circular economy in Viet Nam, the conditions for the transition to this economic model as well as exchanges of models and experiences.

The seminar is a foundational activity, creating favourable conditions for AMC, FES Viet Nam, together with domestic and international experts, to build up a roadmap to integrate the circular economy into its urban development strategies and plans.

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.

Reporting by HOANG HIEP - Translating by A.THU