Economic research on circular economy is in great demand since this novel system is intentionally designed
to outperform the traditional linear economy with respect to sustainability; however, a wide gap between the
intention and applied models persists owing to the incomplete theoretical background and practical guidelines.
Circular economy describes an economic system that is based on business models which replace the ‘end-oflife’ concept with reducing, alternatively reusing, recycling, recovering materials in production/distribution
and consumption processes, with the aim to accomplish sustainable development, which implies creating
environmental quality, economic prosperity and social equity, to the benefit of current and future generations.
This paper firstly aims to develop a conceptual framework of circular economic (CE) and its applications
particularly to developing countries which share contextual similarities with Vietnam. Precisely, CE is look
like a cyclical lake or closed-loop ecosystem to increase green productions and consumptions, whereas the
traditional linear extract-produce-use-dump economy is as a flowing river. In addition, it explored a business
model to enhance the acceptance of farmers to circular economics in organic fertilizer. The target of this paper
is to seek a possibility of circular models applying to the Mekong Delta of Vietnam. The study highlights some
unambiguous benefits of circular economy in favour of sustainable development in three domains including
economy, society, and environment.
The research results assessed the economic implications of and the reasons for adopting circular economics
model in organic fertilizer. Conclusion and managerial implications are drawn from the analysis pointing the
improvement of farmers’ perception on applying circular economic model in organic fertilizer