The program aims to strengthen coordination to contribute to improving the effectiveness and efficiency in implementing the Party's guidelines and the State's laws and policies on developing the collective economy and cooperatives, supporting business development, especially businesses and cooperatives managed by women, creating more jobs for female workers; coordinating to effectively implement the Law on Support for Small and Medium Enterprises; the Law on Cooperatives 2023 and implementing Government Projects to contribute to promoting gender equality in the field of supporting the development of businesses and cooperatives, enhancing women's economic empowerment.

Minister of Planning and Investment Nguyen Chi Dung and President of the Vietnam Women's Union Ha Thi Nga signed and exchanged the minutes of the Cooperation Program between the two sides. (Photo: Duc Trung)

Speaking at the event, Minister of Planning and Investment Nguyen Chi Dung said that Vietnam's enterprise and collective economic sectors have always played an important role in the country's economic and social development. Currently, we have about 930,000 enterprises in operation, contributing more than 60% of GDP, creating jobs for about 30% of the workforce in the economy. Of these, more than 20% are enterprises owned by women.

“Contributing to the overall development achievements of the business sector and cooperatives, female enterprises and cooperatives led by women play an important role. In the context of the world and domestic economy still facing many difficulties and challenges, female entrepreneurs have always been proactive and made efforts to overcome barriers and gender prejudices to enrich themselves, their families and the community. Vietnamese female entrepreneurs not only persevere and steadfastly steer their business activities through the difficulties of the pandemic, but are also dynamic, creative, bringing the courage, intelligence, talent and enthusiasm of Vietnamese women to new and difficult fields that are considered the strengths of men such as: logistics, bridges and roads, construction, industrial park management, information technology and even aviation…”, Minister Nguyen Chi Dung emphasized.

However, in addition to some achievements, enterprises and cooperatives in general, including those owned by women, still have many limitations in terms of scale, capital, low competitiveness, low operational efficiency, and inability to participate in regional and global supply chains. In the context of the current unstable world economy, with a highly open economy, Vietnamese enterprises and cooperatives will face more difficulties when they have to stabilize production and business after the pandemic while meeting new requirements of green transformation, digital transformation and sustainable development.

In order to continue promoting the implementation of initiatives and activities to support businesses and cooperatives, especially those owned by women, and to promote economic empowerment for women, the Ministry of Planning and Investment and the Central Committee of the Vietnam Women's Union signed a Program of coordination between the two agencies for the period 2024 - 2027.

The two agencies will jointly develop and propose policies, organize propaganda activities, raise awareness and mobilize resources to effectively implement the Law on Support for Small and Medium Enterprises, the Law on Cooperatives, programs and projects to enhance capacity, economic power and promote gender equality and economic empowerment for women.

The program aims to enhance capacity, economic power and promote gender equality and economic empowerment for women. (Photo: Duc Trung)

According to Ms. Ha Thi Nga, President of the Vietnam Women's Union, this is the beginning of cooperation between the two agencies in the journey of supporting businesses and cooperatives to expand and develop, contributing significantly to the journey of building a sustainable country. "This is also the most practical and meaningful support that the Ministry of Planning and Investment has given to the Vietnam Women's Union, as well as women entrepreneurs and cooperative owners," Ms. Nga said.

The program aims to concretize the Party's guidelines and State policies, including the National Strategy on Gender Equality and Government projects, to bring more efficiency to women's start-ups, women-owned businesses, and women-managed cooperatives.

“The Vietnam Women's Union commits to continue directing and guiding local Women's Unions to proactively coordinate with the Department of Planning and Investment to effectively implement the coordination program, in accordance with the set goals and requirements,” Ms. Nga affirmed.