Literature review on circular economics adoption for the Vietnam economy

Abstract

The circular economy has been widely used in all industries and services in developed countries for sustainability. This is, however, a new concept in emerging economies. In Vietnam, although the government also has the overall strategic orientation for circular economy deployment, as well as a few large enterprises have implemented its principles in several operations and businesses, there are still many shortcomings compared to developed countries. Therefore, this paper aims to fill the gap to contribute to the thorough review of the literature that underpins circular economy practices in the fields of manufacturing, logistics, and supply chain. The main results of this research are (a) a literature review on circular economy examined in two aspects of government policies and high-tech applications in the light of sustainability; (b) a conceptual framework of the circular economy business model for the adoption and its hypothesis; (c) future research agendas to develop statistical analysis to evaluate and validate the proposed framework, as well as developing an optimization model for a case study in Vietnam.