Vietnam has great potential to develop its recycling industry as the current volume of solid waste reaches 30 million tons with an annual growth of 7 percent, a recent survey conducted by the Ministry of Industry and Trade concluded.
The survey on the demand for and capacity of environmental services in 20 provinces and cities indicated that the sector required investments of VND 2.34 trillion per year (USD 111.4 million) to effectively treat solid waste.
According to the World Bank, there is high potential for recycling industrial solid waste, with 80 percent of waste in some industries being recyclable. As much as VND 54 billion (USD 2.57 million) could be saved per year if each production facility in six industries recycled 50 percent of its waste.
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| Photo for illustration: In a recycling factory. Photo: nld.com.vn |
There are also promising prospects for other fields, such as pollution prevention and control, technical support services, technological advice, and environmentally friendly equipment and material production, the bank said.
However, the limited capacity and experience of environmental service providers in Vietnam are hindering the development of the industry, together with the lack of preferential policies on investment, tax and interest rates.
At present, the majority of industrial-scale recycling is conducted by small- and medium-sized facilities with out-dated technologies and equipment.
Scientific research on waste recycling in Vietnam remains patchy as most studies focus on daily and rural waste.
In order to stimulate the industry, the country needs to develop suitable mechanisms and policies that increase the involvement of businesses and individuals in environmental waste management, experts said.
It is necessary to create an equal business environment for State-owned and private enterprises, and domestic and foreign enterprises, they added.
Source: VNA