Page 189 - Ebook HTKH 2024

For animals, the bioproduct has proven very effective on pigs, cattle, goats,
chickens, ducks, frogs, shrimp, and fish. The product helps animals eat more, grow

faster, increase their resistance, shorten the rearing time, enhance productivity, and
reduce feed consumption. With the benefits provided by these products, the company is
currently well-established in the Mekong Delta region and neighboring provinces. In the
future, the company aims to expand into international markets.
4. Conclusion and policy implications
The circular economy is a sustainable economic model aimed at minimizing waste
and using resources efficiently through design, production, and service activities. From
the initial concepts proposed by Stahel and Reday (1981) to the modern definitions by

the Ellen MacArthur Foundation (2012), the circular economy has become a global trend
with the goal of promoting sustainable development.
Typical circular economy models in Vietnam, such as those implemented by
Vinamilk, Heineken, PAN, Century Yarn, and Endota, demonstrate the success of
applying circular economy principles in practice. These companies not only reduce
negative environmental impacts but also create new economic value through recycling

and effective resource utilization.
Moreover, the successful implementation and scaling of circular economy models
also drive innovation, cost savings, and enhanced business efficiency. The growth of the
circular economy in Vietnam and worldwide is expected to continue delivering
significant benefits and contribute to the global goal of sustainable development.
To promote the development of the circular economy in Vietnam, several policy
implications need to be implemented simultaneously:

Firstly, improving the legal framework: Establish clear legal regulations
specifying the responsibilities of producers and distributors regarding the collection,
sorting, and recycling of products or paying for the disposal of discarded products based
on the quantity sold in the market.
Secondly, support and encourage businesses to adopt circular economy models:
Facilitate businesses in implementing circular economy activities through tax

incentives, investment incentives, waste management facility construction support, and
credit incentives, tailored to the characteristics of each business.
Thirdly, raise awareness among the community and businesses: Organize
communication campaigns to increase awareness of the benefits of the circular economy
among the general public and businesses. Integrate circular economy principles and
environmental protection into school curricula to educate social responsibility.
Fourthly, establish clear circular economy standards: Develop standards and
certification systems to assess and recognize businesses that excel in circular economy

practices. Research and selectively promote circular economy models and technologies
for dissemination and encouragement to other businesses for adoption in their
production and operations.

181