Vietnam Circular Economy Forum 2024, organized by the Ministry of Natural Resources and Environment with the theme "From Plan to Action", with thematic discussions on promoting the circular economy, focusing on waste management solutions and sustainable development, marking the active role of businesses in realizing the green economic strategy in Vietnam.

The Vietnam Circular Economy Forum 2024 focuses on building the foundation for the upcoming implementation of the National Action Plan on Circular Economy (NAPCE), paving the way for Vietnam to move towards the goal of building a circular economy by 2030.

Mr. Hoang Trung Thanh - Member of the Board of Directors of Bamboo Capital, Vice Chairman of the Board of Directors and Deputy General Director of BCG Energy - participated in the forum as a speaker in the dialogue session on promoting the circular economy in Vietnam. The discussion session had the participation of representatives from state management agencies, international organizations and the business community.

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Vietnam Circular Economy Forum 2024. Photo: Bamboo Capital

At the event, Mr. Hoang Trung Thanh emphasized the important role of enterprises in implementing circular economy initiatives. With experience in the fields of renewable energy, real estate and finance, Bamboo Capital has pioneered the integration of environmentally friendly solutions into its business strategy. By implementing renewable energy projects such as solar power, wind power, waste-to-energy; optimizing construction materials and applying digital technology, Bamboo Capital hopes to contribute to improving efficiency and minimizing negative impacts on the environment.

According to Mr. Hoang Trung Thanh, the method of burning waste to generate electricity (waste-to-energy) is an effective solution in waste treatment, especially in the context of the rapid increase in waste in urban areas due to urbanization and population growth.

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Mr. Hoang Trung Thanh - representative of Bamboo Capital (middle) affirmed that circular economy is not only a trend, but also an inevitable solution to protect resources and promote sustainable development in Vietnam. Photo: Bamboo Capital

According to the Department of Environmental Pollution Control under the Ministry of Natural Resources and Environment, by 2023, Vietnam will generate about 19 million tons of waste per year, of which urban waste accounts for 12.8 million tons. Major cities such as Hanoi and Ho Chi Minh City generate more than 6,000 tons and 9,500 tons of waste per day, respectively, with landfill rates of up to 90% and 69%. Landfilling not only puts great pressure on the waste treatment system but also increases the risk of environmental pollution and urgent social issues.

In that context, Mr. Hoang Trung Thanh affirmed that when waste classification still has many difficulties, developing waste-to-energy with high technology, closed process, strict treatment and reuse of by-products is an urgent solution.

In January 2024, Bamboo Capital completed the M&A deal with Tam Sinh Nghia Company, entering the waste-to-energy sector. Just 6 months later, in July 2024, the Tam Sinh Nghia waste-to-energy incineration plant was started, applying advanced technology and modern treatment processes, ensuring optimal recycling efficiency and minimizing environmental impact.

In addition, Bamboo Capital also builds a systematic circular ecosystem with close coordination between member companies. Specifically, the remaining slag and ash from the waste incineration process will be recycled into construction bricks by Tracodi - a member of Bamboo Capital. The products are not only used in Tracodi's construction projects but also in BCG Land's real estate projects. This not only helps to reduce the amount of landfill waste but also optimizes recycled resources within the enterprise.

At the same time, with the modern technology that Bamboo Capital is applying, fly ash is comprehensively treated through many filtration and chemical neutralization systems to remove toxins, while wastewater is also recycled back into the cooling system. With this process, only about 3 - 5% of the initial waste needs to be finally treated at safe landfills.

This approach shows that Bamboo Capital is not only involved in the waste-to-energy sector but also integrates recycling solutions into every aspect of the value chain. The synchronous coordination between member companies is a testament to the commitment to building a sustainable circular economy ecosystem, making an important contribution to Vietnam's green transition.

In addition, Mr. Hoang Trung Thanh emphasized that promoting a circular economy in Vietnam requires close cooperation between parties. State management agencies need to build a clear legal corridor to support businesses. Businesses need to ensure transparency and efficiency in recycling and renewable energy activities. In particular, raising public awareness about waste classification and management is an essential factor to create sustainable change.

Bamboo Capital is currently actively cooperating with international partners to learn from experience and develop effective circular economic models in Vietnam.

Vinh Phu