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More funding to nurture young entrepreneurs key to modernisation process
Young entrepreneurs and businesses have made a significant contribution to the country's industrialisation and modernisation process, according to a seminar held last Saturday in HCM City.
Young businesspeople had made major contributions in science, technology and supporting the poor and they needed more support to develop new businesses, participants at the conference said.
The event, attended by businessmen, scientists and administrators, was held by the Ho Chi Minh Communist Youth Union and the Party's Communist Review to evaluate enterprises' roles in development
Several recommedations to policy regarding global integration were made at the conference with more than 50 papers presented.
According to Professor Truong Gia Long, deputy editor-in-chief of the magazine, the country has more than 400,000 enterprises, 90 per cent of which are managed and established by young businesspeople.
HCM City has more than 137,000 enterprises, most of them run by young entrepreneurs. The HCM City Young Businessmen Association has 738 members who invested more than VND23.6 trillion (US$1.2 billion), creating jobs for over 87,000 in the city and neighbouring provinces.
"Young entrepreneurs are creative, adventurous and hungry for knowledge," Long said.
Thai Van Re, director of HCM City's Department of Planning and Investment, said it wasn't easy for young entrepreneurs to learn the skills needed to shape successful businesses and access investment funding and equipment.
The lack of market and product information and knowledge of policies that support enterprises were also barriers to young businesses, Re said.
He suggested related agencies should strengthen their models for business nurseries that nurture young enterprises in Viet Nam. Similar models that provide management skills are applied in Europe and Japan.
In HCM City, four such business nurseries have been established in Sai Gon Hi-tech Park, Quang Trung Software City, HCM City University of Agriculture and Forestry and HCM City University of Technology. Re suggested that more financial support and priority policies be given to young entrepreneurs.
"The success of many young entrepreneurs is encouraging to our students who are still studying at school. They are eager to graduate and start new businesses," said Tran Hoang Nhan, Deputy Head of the HCM City University of Economics.
Nhan added that previously many graduates feared unemployment and were unsure about starting their own businesses.
He said the city government should hold dialogues with young businessmen to identify their problems.
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