From Linear Economy to Circular Economy: Conceptual Foundations and Vietnam’s Journey Toward Sustainable Economic Transformation

Abstract

The rapid development of industries worldwide has created worrying consequences such as environmental pollution, depletion of resources, and increased waste from the production process. As global production and consumption increase, the limitations of the linear economic model are becoming increasingly apparent. Thus, transforming toward a circular economy has become a strategic choice for countries worldwide to achieve sustainable development goals. This paper discusses the concepts and principles of a circular economy, the current situation, and some initiatives proposed by the government to promote the circular economy in Vietnam. Desk research and content analysis methods have been employed in this study. From our findings, we highlight the suggestions to accelerate Vietnam’s transition toward a circular economy.