In recent years, many businesses have proactively invested in technology, used resources efficiently, reduced energy consumption and adopted circular economy models. However, the green transition process still faces numerous challenges, particularly high investment costs, support mechanisms that have yet to meet requirements, and certain legal provisions that have not kept pace with practical developments.
In the cement industry, one of the sectors that consumes large amounts of energy and generates significant greenhouse gas emissions, businesses have gradually made use of industrial waste as alternative raw materials and fuels, invested in exhaust gas treatment systems and recovered waste heat to generate electricity.
According to the Viet Nam Cement Corporation (VICEM), the average proportion of fly ash and slag used as additives at its member units exceeds 12%, equivalent to approximately 2.3–2.7 million tonnes per year. However, expanding circular economy models continues to encounter numerous obstacles. At Lam Thach Cement Plant in Quang Ninh Province, although the plant has the capacity to process up to 450 tonnes of waste per day and night to replace part of its conventional fuel, the actual volume of waste received has reached only around half of its capacity due to difficulties in waste collection, transfer and environmental procedures.
Moreover, businesses must devote substantial resources to meeting environmental requirements. According to VICEM, upgrading the electrostatic precipitator systems of clinker kilns to bag filters for two production lines requires a total investment of tens of billions of dong. Meanwhile, financial support mechanisms and guidance on certifying greenhouse gas emission reductions achieved through the co-processing of waste and the use of waste heat for power generation still need further improvement.
Obstacles have also been reported in implementing extended producer responsibility (EPR), particularly with regard to cement packaging. According to Do Tien Doan, Deputy Head of the Waste Management Division under the Environment Department (Ministry of Agriculture and Environment), the regulatory authority is proposing to include co-processing in cement kilns as a mandatory recycling method for cement packaging, due to the lack of suitable recycling technologies. This solution is already being applied in practice, with the aim of addressing difficulties faced by businesses and ensuring that regulations are consistent with existing technological conditions and infrastructure.
For the green transition to become a new driver of growth, the requirement is not only to continue refining targets and strategies, but, more importantly, to remove institutional bottlenecks, establish a comprehensive legal framework and unlock investment resources. Policies that provide strategic direction need to be translated into practical, implementable mechanisms that create economic incentives for businesses to proactively innovate their technologies and develop green production.
According to Associate Professor and Doctor Nguyen The Chinh, Director of the Institute of Environmental Economics Policy, the first priority is to review and comprehensively assess the system of policies and laws related to the green transition, particularly regulations on environmental protection, investment, finance, enterprises and consumer rights protection, and then make amendments and additions accordingly. A “green market” needs to be established to promote sustainable production and consumption. The private sector must become the main driving force behind the implementation of the green transition and green growth.
Doctor Ho Cong Hoa of the Academy of Policy and Development said that guidelines for implementing the green taxonomy under Decision No. 21/2025/QD-TTg should be finalised soon, providing a consistent basis for credit institutions to identify, assess and provide financing for projects that meet environmental criteria. He also called for research into interest rate support mechanisms and preferential credit for businesses investing in clean technologies, renewable energy and the circular economy, as well as the development of the green bond market and diversification of long-term capital mobilisation channels.
Doctor Ho Cong Hoa proposed studying the establishment of a Viet Nam Climate Bank, a specialised financial institution aimed at mobilising resources from the public and private sectors and international financial institutions for green transition projects.





