Startups in Vietnam have huge opportunities and potential.

At the International Forum “Policy to promote innovative startups for youth”, Deputy Minister of Foreign Affairs Do Hung Viet said that startups in Vietnam have huge opportunities and potential.

On the afternoon of November 10, in Hanoi, the International Forum "Policy to promote innovative startups for youth" was held by the National Committee on Vietnamese Youth, the Central Youth Union in coordination with the Ministry of Foreign Affairs, the Ministry of Planning and Investment and the Ministry of Science and Technology, in both in-person and online formats.

Direct connection point in Hanoi capital, connecting with People's Committees of centrally-run cities, 63 provincial and municipal Youth Unions nationwide and 14 countries: Singapore, Malaysia, Indonesia, Thailand, Philippines, India, Korea, China, Japan, Israel, Australia, New Zealand, Norway, Finland.

The forum was chaired by Mr. Bui Quang Huy, alternate member of the Party Central Committee, First Secretary of the Central Youth Union, Chairman of the National Committee on Vietnamese Youth; Mr. Do Hung Viet, Deputy Minister of Foreign Affairs; Mr. Nguyen Tuong Lam, Secretary of the Central Youth Union, Permanent Deputy Chairman of the National Committee on Vietnamese Youth.

Start-up ở Việt Nam đang có cơ hội và tiềm năng hết sức to lớn - Ảnh 1. — *The forum took place at the Hanoi bridge connecting with 63 provinces and cities nationwide and 14 countries around the world.*

Opportunity to look back at what has been done and what has not been done

Speaking at the opening of the forum, Deputy Minister of Foreign Affairs Do Hung Viet said that in the past, the keywords startup, entrepreneurship, and innovation were still quite unfamiliar. Over the past decade, those words have gradually become more popular and familiar. Startups and innovation are an important driving force and resource in the development of each country, especially in the era of globalization, international integration, and the fourth industrial revolution.

Faced with the impacts and damage caused by the Covid-19 pandemic, promoting creative startups is one of the focuses in the process of restructuring the economy and innovating growth.

According to Mr. Viet, with high growth rate and favorable business investment environment, Vietnam is becoming a development center for start-up businesses in the Asia-Pacific region.

Start-up ở Việt Nam đang có cơ hội và tiềm năng hết sức to lớn - Ảnh 2. — *Deputy Minister of Foreign Affairs Do Hung Viet speaks at the forum*

The Deputy Minister also said that a recent announcement ranked Vietnam 54/100 in the global startup ecosystem. This shows that startups in Vietnam have huge opportunities and potential.

“The spirit of daring to think, daring to do, daring to commit to realizing dreams and ambitions, daring to innovate, daring to experiment is the quality that helps young people become a pioneering force in breakthroughs in startups and innovation.

Today's forum is an opportunity for us to look back at what has been done, what has not been done, listen to and learn from experiences in the process of promoting creative startups for young people," Mr. Viet emphasized.

Start-up ở Việt Nam đang có cơ hội và tiềm năng hết sức to lớn - Ảnh 3. — *Youth delegates attending the forum*

At the forum, delegates discussed and shared experiences in building and implementing policies, and proposed a policy coordination mechanism to promote innovative startups for young people. At the same time, delegates also proposed solutions to improve the system of policies and laws to promote innovative startups for young people in Vietnam.

Hope to learn from other countries' experiences

In his closing speech at the forum, Mr. Bui Quang Huy, on behalf of the National Committee on Vietnamese Youth, highly appreciated the opinions at the forum and expressed his wish that ministries, departments, branches, localities of Vietnam and agencies, departments in charge of the field of innovation and start-up as well as in charge of youth work of other countries would jointly implement a number of issues.

In particular, strengthening activities to equip Vietnamese and foreign youth with qualities, skills, knowledge, nurturing passion, aspiration to get rich, and success in startups in general and innovative startups in particular.

Start-up ở Việt Nam đang có cơ hội và tiềm năng hết sức to lớn - Ảnh 4. — *Mr. Bui Quang Huy delivered the closing speech of the forum.*

Mr. Bui Quang Huy also suggested that countries and organizations should regularly organize direct or online activities so that young people have the opportunity to exchange and share creative business ideas, choose business ideas that are suitable for the market needs of each country and international integration, turn ideas into feasible business projects and plans; share so that young people in Vietnam and other countries can build brands and market successfully.

In addition, it is necessary to increase the sharing of international business experiences and implement policies to promote innovative startups for young people.

Mr. Bui Quang Huy also said that for Vietnam, starting from 2023, the National Committee on Vietnamese Youth will build an annual report on youth startups, so it hopes to learn from the experiences of other countries to inform Vietnamese youth.

“At the same time, the experiences of other countries are also important documents for the Central Youth Union to effectively implement the Youth Startup Support Project approved by the Prime Minister of Vietnam for the period 2023 - 2030,” said Mr. Bui Quang Huy.

Thanhnien.vn