More support policies needed to boost startups, innovation: VCCI President
President of the Vietnam Chamber of Commerce and Industry (VCCI) Vu Tien Loc (Photo: enternews.vn)
Speaking at the 4th national startup forum in Hanoi, Loc stressed that the Government has accelerated the implementation of various policies and mechanisms to encourage startups and innovation in the context of the Fourth Industrial Revolution.
According to the Global Entrepreneurship Network (GEN), among 60 surveyed countries and territories, Vietnam is one of the top nations with a strong preference for entrepreneurial settings. However, when it comes to its ability to realise startup initiatives, the country is placed in the bottom 20.
“There is a yawning gap between businesses’ aspirations and their achievements,” Loc stressed.
Head of the VCCI’s legal department Dau Anh Tuan said the country is now home to some 800,000 businesses and 5 million business households, so it is necessary to create conditions for households to switch their operations to act as enterprises to promote the startup spirit.
To this end, they should receive support in market participation procedures, capital access and application of information technology, he recommended, adding that competent authorities should work to enhance transparency and complete a legal framework.
Meanwhile, Tran Chi Dung, a monitoring and results measurement officer at the Swiss Entrepreneurship Programme, said Vietnam has many policies for startups but businesses still find it hard to achieve success as they do not spend time studying these policies before implementing their business plans.
Related News
Ensure policies to attract investment when implementing global minimum tax
10:33 | 02/04/2023 Finance
Increase competitiveness when export turnover comes from domestic enterprises
20:38 | 01/04/2023 Import-Export
Revising Law on Corporate Income Tax: Promoting resources for socio-economic development
13:43 | 27/03/2023 Regulations
Banks granted credit room
10:10 | 13/03/2023 Finance
Latest News
Australian Governor-General wraps up State visit to Vietnam
13:53 | 06/04/2023 Headlines
Vietnam active at UN Human Rights Council’s 52nd session
16:11 | 05/04/2023 Headlines
Vietnam commits to building prosperous, fair, healthy Mekong River basin: PM
16:09 | 05/04/2023 Headlines
Việt Nam, US hold 12th political, security, defence dialogue
14:15 | 03/04/2023 Headlines
More News
Private sector remains driving force for economy
14:11 | 03/04/2023 Headlines
State visit to Vietnam by Australian Governor-General to deepen the two’s goodwill, trust: expert
14:10 | 03/04/2023 Headlines
Vietnam"s economy to grow by 6.6% this year: OECD
17:45 | 02/04/2023 Headlines
Bright outlook for Vietnamese tourism in new situation
16:52 | 02/04/2023 Headlines
Vietnam, US hold 12th Political, Security, Defence Dialogue
20:25 | 01/04/2023 Headlines
Vietnam calls for comprehensive, all-society approach to waste management
14:32 | 31/03/2023 Headlines
Many factors support foreign capital flow
13:40 | 30/03/2023 Headlines
Foreign SMEs pour capital into Vietnam
13:37 | 30/03/2023 Headlines
Leaders of aviation firms to be disciplined if employees committed wrongdoings
15:38 | 29/03/2023 Headlines
Your care
The system has not recorded your reading habits.
Please Login/Register so that the system can provide articles according to your reading needs.
Australian Governor-General wraps up State visit to Vietnam
13:53 | 06/04/2023 Headlines
Vietnam active at UN Human Rights Council’s 52nd session
16:11 | 05/04/2023 Headlines
Vietnam commits to building prosperous, fair, healthy Mekong River basin: PM
16:09 | 05/04/2023 Headlines
Việt Nam, US hold 12th political, security, defence dialogue
14:15 | 03/04/2023 Headlines
Private sector remains driving force for economy
14:11 | 03/04/2023 Headlines