Hanoi (VNA) – Experts, management officials andbusiness representatives gathered at a conference in Hanoi on July 26 to discuss measures topromote startups following the circular economic model to benefit the society andbusinesses in a sustainable manner.

Addressing the event, Pham Hong Quat, Director of the Agencyfor Technology Entrepreneurship and Commercialisation Development (NATEC) underthe Ministry of Science and Technology said that science-technology developmenthas brought about great benefits, making life better and more convenient.

However, it also goes along with many challenges such as resourcedepletion, environmental pollution and climate change, he noted, highlighting thesignificance of circular economy as a solution to these problems, in which thelife cycle of products is extended and negative environmental impacts areminimised.

Meanwhile, Nguyen Phuong Linh, Director of Management andSustainable Development Institute said that the Prime Minister approved a national circular economicdevelopment project on June 7, 2022, which affirmed that the proactive development of the circular economy is inevitable, inline with the trends and requirements for making breakthroughs in economicrecovery and the implementation of the Sustainable Development Goals (SDG) inVietnam.

She said the project underlines the importance of promoting circular economyin the process of economic restructuring and renovating the growth model, enhancing the economy's competitiveness, adaptation andresilience against outside shocks, thus realising the national strategy on greengrowth in the 2021-2030 period with a vision to 2050, and ensuring security anddefence.

At the conference, participants discussed a number ofstartup models, while sharing their viewpoints of advantages and challenges forstartups as well as lessons in business governance and the shaping ofsustainable and circular enterprises./.