The Ministry of Planning and Investment is currently seeking feedback on a draft Decree concerning a pilot mechanism for developing a circular economy.

The draft document proposes four sectors to be included in the pilot: agriculture, forestry, and fisheries; industry; renewable energy; and construction materials.

According to the ministry, the objective of this pilot mechanism is to create a controlled environment for the successful transformation, development, and operation of projects participating in the circular economy pilot program. The aim is to expedite the completion of mechanisms and policies, improve economic efficiency, and enhance employment and income for workers during the green growth and green transition process.

The pilot mechanism also seeks to promote innovation by facilitating access to, testing of, and application of scientific and technological achievements, digital transformation solutions, and modern, groundbreaking new technologies.

These technologies should be adaptable to major global trends and align with the trend of green and sustainable development. Additionally, they should seamlessly integrate the sectors of agriculture, forestry, fisheries, industry, energy, and construction materials, ensuring food security, energy security, sustainable economic efficiency, and the reduction of waste from non-renewable resources.

The results from implementing this pilot mechanism will serve as a practical basis for developing and finalizing a legal framework and official management regulations.