At the workshop, the Viet Nam National Plastic Action Partnership (NPAP) presented an overview of the key challenges and investment needs in plastic waste management for the 2025–2030 period. Viet Nam has set an ambitious target to reduce marine plastic litter by 75% and progressively eliminate single-use plastics in coastal areas. However, current conditions remain challenging, with plastic recycling rates still below 20 percent. Approximately 42 percent of plastic waste is treated through environmentally harmful pathways such as open burning, while an estimated 0.28 million tonnes of plastic leak into rivers and the ocean each year, placing significant pressure on the country’s waste management system.
To meet the 2030 targets, the financing roadmap estimates total investment needs ranging from USD 7.5 to 8.5 billion between 2025 and 2030. The majority of this investment is required for downstream interventions, including waste collection, sorting, recycling, and final disposal, alongside upstream measures aimed at plastic reduction and material substitution. Even after accounting for expected revenue streams from the Extended Producer Responsibility (EPR) mechanism and existing funding sources, a substantial financing gap of USD 5.2 to 7.0 billion remains, underscoring the need for stronger engagement from the private sector and international partners.
Discussions at the workshop highlighted the critical importance of strengthening and operationalizing the EPR policy framework to ensure that financial contributions are effectively channeled toward recycling and waste management activities. Participants also emphasized the need to establish quality standards and certification systems for recycled plastics to build market confidence. Fiscal instruments, such as tax incentives for sustainable materials, reduced VAT rates for certified recycled plastics, and adjusted taxation on virgin plastics, were proposed as key measures to create clear price signals and encourage environmentally friendly alternatives.
Another notable focus of the workshop was the integration of the informal sector—particularly independent waste workers—into the formal plastic value chain. Recognizing, financially supporting, and improving working conditions for this workforce were identified as essential steps not only to enhance collection efficiency but also to promote social inclusion and green job creation.
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The workshop also acknowledged the active participation and contributions of KLINOVA, represented by Nguyễn Phương Nam, CEO, and Mr. Đặng Hữu Hoàng, Communications Specialist. Dr. Nam shared expert perspectives on financing mobilization, policy mechanisms, and the investment viability of circular economy models for plastics. The interventions highlighted the importance of blended finance and pilot projects that can demonstrate bankability, thereby attracting long-term private capital into the sector.
Looking ahead, NPAP is positioned as the central coordination platform to connect policy, finance, and on-the-ground implementation initiatives. Immediate priorities include supporting businesses in EPR compliance readiness, piloting quality standards for recycled plastics, and promoting innovative financing models. The outcomes of the January 16 online workshop are expected to provide a critical foundation for advancing the financing roadmap, contributing to the development of a transparent, investable, and sustainable waste management ecosystem in Viet Nam.
- Huu Hoang -
