Natural resource management in Vietnam: Merging circular economy practices and financial sustainability approach

Abstract

This study provides circular economy principles in natural resource management (NRM) in Vietnam when merging financial sustainability. Prior studies have neglected NRM in terms of utilizing circular economy principles (CEP) with the support of financial sustainability (FS). The main goal is to improve CEP in NRM utilizing the FS. This study employs the novel hybrid method to explore the multi-hierarchical NRM structure, address the interrelationships among CE and NRM attributes, and identify the attributes for improvement with the support of FS. This study proposes 85 criteria across 13 aspects base on the natural resource-based view. The results reveal a valid set of 20 criteria spanning six aspects. The aspects comprise operational digitalization, Fintech application and environmental strategy. The practical criteria include digital ecosystem collaborations, automation and robotics operations, compliance with environmental standards and laws, blockchain adoption, and data security. The FS is indicated as the decisive perspective for improving the CEP in NRM.