**4. Discussion**

The next section of the research article is devoted to result description and discussion. It summarizes the most critical research findings and discusses how they relate to two essential topics, well-being and risk awareness. During the research the authors analyzed different approaches to industrial symbiosis (based on the theory of CE, SD, and IE) and what could be considered of utmost importance, in developing the above depicted matrix, which reveals the cooperation possibilities between main stakeholders–clients, government, partners, society, and financial stakeholders (Figure 10).

**Figure 10.** Matrix for development of regional or cross-country IS.

The matrix depicts the main areas of interest of each of the stakeholders and their impact on potential regional/cross-country industrial symbiosis. The matrix also incorporates the undertaken risk assessments and reveals the cooperation matrix involving all of the stakeholders. Basically, this matrix can be used as a tool for country policymakers to develop a national IS strategy framework and to reveal all the benefits for each of the stakeholders while it is also a crucial tool in the potential development of the BUP level cross-country IS cooperation platform. Integration of industrial systems to achieve the goals and principles of sustainable development achieves an effect in the case where there is an interaction of all participants in industrial symbiosis and in elements of the external environment.

However, the role of the government remains unchanged within the framework of IS, since it is based on the model of public-private partnership, where the state reflects the guarantor of economic security and invests, while in turn, the private sector actively attracts other stakeholders. However, only in the joint and mutual deepening of the processes of creation and exchange of knowledge between the stakeholders of industrial symbiosis in the context of their transition to a circular economy can it help them implement policies to achieve SDGs [67].

The implementation of IS at the regional level should be harmonized with the main municipal policies and programs aimed at increasing the value of residual resources with reference to urban systems based on recursive organic modernization and eco-innovation, which is the basis of sustainable economic development. Regional features of interaction between enterprises located in the same territory determine the possibilities for the development of a circular economy in the future due to geographical, environmental, socio-economic, and natural conditions [68–70].
