Journal of Contemporary Issues in Business and Government

Abstract

In Vietnam, economic activity has so far been mainly based on the traditional approach,
which is linear economy. This is also the basic cause leading to the shortage of natural resources and
especially causing serious environmental pollution. In order to realize rapid and sustainable
development, to harmoniously deal with the relationship between economic growth and environmental
protection, to "do not trade off" economic growth with environmental pollution and degradation, to
switch to an eco-friendly economy. circular economy is the right direction. However, this
transformation requires seizing the opportunities and accepting the challenges that need to be overcome.
The article analyzes opportunities and challenges of circular economy development and proposes
solutions to promote circular economy development for Vietnam in the coming time.