Circular Economy Business Model in Cambodia: Drivers, Barriers and Impacts

Abstract

The notion of the circular economy has garnered noteworthy interest as a viable substitute for the conventional linear economic framework. This paper investigates the emergence of circular economy business models in Cambodia, focusing on the drivers that are shaping this transition, the barriers that businesses encounter, and the potential impacts of circular economy initiatives on the Cambodian economy and society. By examining the Cambodian context, this study seeks to shed light on the opportunities and barriers associated with the adoption of circular economy practices in a least developed country setting. Even though Cambodia has made strides toward development, Gaudemar (2016) noted that it is improbable for the country to "graduate" from its Least Developed Country (LDC) classification until 2025 or later. Furthermore, the findings of this research can contribute to the gap in the literature related to policy interventions and strategic decision-making aimed at promoting sustainable economic development and environmental stewardship in Cambodia.