This paper provides an in-depth analysis of green economic development and environmental protection in developing countries in Southeast Asia, based on a review of documents and domestic and international literature. The paper reviews the relationship between renewable energy, CO2 emissions, and economic growth, discusses renewable energy challenges in Asia, evaluates the costs and benefits of sustainable practices, and explores the circular economy model as a solution for sustainable development. The study recognizes the achievements that these countries have done well and clarifies many limitations that need to be overcome. Based on this analysis, the paper drives lessons for improving policies and strategies to develop green infrastructure, advance clean energy and green technology, and promote green economic development while protecting the environment in Vietnam. This represents a new research trend aimed at addressing Vietnam’s current sustainable development requirements.