Vietnam promotes entrepreneurship growth
Society values successful businessmen more than ever, leading almost 70% of Vietnamese adults to desire to run a business, Dr Luong Minh Huan from the Institute for Business Development said during a start-up forum held on June 9.
Huan’s statement was drawn from a study report of the Global Entrepreneurship Monitor (GEM) which polled 2,000 adults and 36 experts in Vietnam last year.
Accordingly, only 39.4% of surveyed people spotted start-up opportunities around them and 58.2% realised their entrepreneurial potentials. Those figures were slightly higher than in 2013 but are still relatively low. The research findings also unveiled that 89% of domestic business activities were to cater for consumers.
Based on the overall results, the GEM recommended Vietnam stabilise its macroeconomics, enhance trust of local business community, innovate training courses and increase the application of science and technology in commercial activities.
At the forum, participants stressed the importance of launching research and development processes to boost overall quality and effectiveness.
They also put forth a number of entrepreneurial capacity-building measures for local firms to access capital sources, manage finances and train staff.
They proposed promoting a start-up environment in Vietnam with a priority on diverse start-up programmes designed for youth from rural and mountainous areas.
According to Vuong Dinh Hue, Chairman of the Party Central Committee’s Commission for Economic Affairs, programmes to develop local entrepreneurship need to include households and students.
The forum was co-organised by the Party Central Committee’s Commission for Economic Affairs and the Vietnam Chamber of Commerce and Industry (VCCI).
Accordingly, only 39.4% of surveyed people spotted start-up opportunities around them and 58.2% realised their entrepreneurial potentials. Those figures were slightly higher than in 2013 but are still relatively low. The research findings also unveiled that 89% of domestic business activities were to cater for consumers.
Based on the overall results, the GEM recommended Vietnam stabilise its macroeconomics, enhance trust of local business community, innovate training courses and increase the application of science and technology in commercial activities.
At the forum, participants stressed the importance of launching research and development processes to boost overall quality and effectiveness.
They also put forth a number of entrepreneurial capacity-building measures for local firms to access capital sources, manage finances and train staff.
They proposed promoting a start-up environment in Vietnam with a priority on diverse start-up programmes designed for youth from rural and mountainous areas.
According to Vuong Dinh Hue, Chairman of the Party Central Committee’s Commission for Economic Affairs, programmes to develop local entrepreneurship need to include households and students.
The forum was co-organised by the Party Central Committee’s Commission for Economic Affairs and the Vietnam Chamber of Commerce and Industry (VCCI).