A circular economy aims to circulate the waste within a single enterprise or turn waste from one industry into a resource for another. According to the United Nations Industrial Development Organisation (UNIDO), a circular economy is a closed production cycle, where waste is returned as raw materials for production, thereby reducing any negative impact on the environment, ecosystems, and human health.
A strategy to 2030 sets sustainable targets with a balanced import-export structure in order to sharpen competitive edge and bolster brand development for Vietnamese products. The idea behind the plan is to raise Vietnam’s position in the global supply chain and serve as momentum for sustainable economic development. The target has been set at an average export growth rate of 6-7% to 2030.
Fishery export turnover this May hit the 1-billion-USD benchmark, posting a year-on-year rise of 27 percent and bringing the figure in the first five months of the year to more than 4.6 billion USD, up 42 percent compared to the same period of 2021.
Agro-forestry-fishery exports hit about 23.2 billion USD in the first five months of 2022, posting a year-on-year increase of 16.8 percent. Nine groups of products enjoyed export values of more than 1 billion USD in the period, including coffee, rubber, rice, cashew and vegetables.
As of May 20, 2022, total newly registered and adjusted capital together with capital contributions and share purchases by foreign investors surpassed 11.71 billion USD in the first five months of this year, equivalent to 83.7 percent of the same period last year.
As many as 26 commodities posting export turnover of more than 1 billion USD in the first five months of 2022, accounting for 89.6 percent of Vietnam’s export turnover. Of them, six items enjoyed turnover exceeding 5 billion USD, making up 62.3 percent.