An innovative project titled "Accelerate Circular Economy for Business" (ACE-Biz) was launched in Vietnam on July 18 to enable businesses to contribute to reducing environmental pollution through circular economy practices.
ACE-Biz reinforces the partnership between the Embassy of the Kingdom of Netherlands and the United Nations Development Program (UNDP) with a shared commitment to driving the acceleration of the circular economy in Vietnam's private sector.
UNDP Resident Representative in Vietnam Ramla Khalidi (R) and Netherlands Ambassador to Vietnam Kees van Baar sign ACE-Biz project cooperation agreement. Photo: UNDP |
"The strengthened collaboration between the Embassy of the Kingdom of the Netherlands and UNDP underscores our shared commitment to driving the acceleration of circular economy practices in Vietnam's private sector," said Kees van Baar, the Netherlands Ambassador to Vietnam.
Accordingly, the two sides will leverage their expertise, resources, and networks to support Vietnamese businesses in transitioning towards a more sustainable and circular economy, thereby contributing to a greener future.
Ramla Khalidi, UNDP Resident Representative in Vietnam, expressed her delight that the partnership helps advance the circular economy agenda in Vietnam's private sector. "By supporting an enabling environment and demonstrating the applicability of practical circularity principles, we can drive transformative change and empower businesses to adopt sustainable practices, leading to a more resilient and prosperous future for Vietnam," she emphasized.
The project aims to contribute to Vietnam’s low-carbon and circular development by transforming business through formulating circular guidelines, delivering capacity-building programs and fostering technology transfer, and demonstrating the certification scheme to promote exchanges of secondary materials and reusable goods through an online marketplace.
ACE-Biz will be jointly implemented by Government bodies, including the Ministry of Industry and Trade, the Ministry of Natural Resources and Environment, the private sector partners and academia, from both Vietnam and the Netherlands, Nam Cau Kien Industrial Park, NX Filtration Company and Saxion University of Applied Sciences.
Enhance private engagement in circular economy
The new project will offer tailored capacity-building programs, equipping Vietnamese businesses with the knowledge and skills to demonstrate green production methods and reduce environmental pollution through circular economy practices. The collaboration aims to drive tangible change and establish a strong foundation for sustainable economic growth by nurturing a network of circular economy champions in the private sector.
A significant demonstration component of the project involves establishing a close - loop model for circular industrial wastewater. This model will showcase the economic viability of circular industrial wastewater treatment, inspiring and encouraging the adoption of similar models in other regions and industries.
The collaborative efforts of the Netherlands Embassy and UNDP will contribute to the achievement of several Sustainable Development Goals (SDGs), including SDG8 (Decent Work and Economic Growth), SDG9 (Industry, Innovation, and Infrastructure), SDG12 (Responsible Consumption and Production), and SDG13 (Climate Action). The partnership aims to create a safer and cleaner environment by promoting circular economy principles while fostering sustainable and inclusive economic development.
The ACE-Biz project represents a crucial step toward realizing Vietnam's vision of a circular economy. Building upon the success of the Capacity Building Program for Enterprises implemented last year, which trained over 104 businesses and led to seven businesses formulating plans to transition/adopt circular business models, the project will address the identified gaps, limitations, and practical needs of Vietnamese enterprises.
