Vietnam Prime Minister Attends National Startup Festival for Students
The Highlights:
• Prime Minister Pham Minh Chinh attended the opening of the fifth National Startup Festival for students in the central province of Thua Thien-Hue's Hue city on March 25.
• The country has attracted more than 60 adventure funds, while over 3,000 startups have been launched successfully, and nearly 100 universities have included startups in their curricula.
On March 25, in the city of Hue in the central province of Thua Thien-Hue, Prime Minister Pham Minh Chinh attended the launch of the fifth National Startup Festival for students.
Over 2,600 start-up projects and more than 4,000 start-up ideas and projects in the area of vocational training have been drawn to the project to support students and students' start-ups until 2025 after five years.
About 60 adventure funds have so far invested in the nation, over 3,000 start-ups have been successfully formed, and approximately 100 universities now offer start-up courses. 98 incubators have also been set up in schools at the same time.
The Ho Chi Minh Communist Youth Union has held more than 3,000 start-up competitions at all levels, drawing close to 370,000 youth with close to 14,000 ideas and supporting close to 16,000 start-up companies at the cost of close to VN700 trillion (US$29.75 million).
The government official maintained, however, that the development of Vietnam's startup ecosystem has not yet reached its full potential, and that young people continue to encounter several obstacles and challenges when putting their start-ups into action.
He urged local governments, businesses, and ministries to continue to support young people starting businesses by providing a supportive atmosphere and legal framework.
“It is necessary to review, amend and supplement mechanisms and policies to encourage and protect the youth during the start-up and innovation process, while giving them assistance in capital, infrastructure, human resources and tax policies, and associating start-ups in schools with the settlement of current issues” – Prime Minister Pham Minh Chinh has stated.
The annual festival, which is a component of the initiative to assist children and young people in starting their own businesses, will run until March 26 and feature a number of events, including startup-focused exhibitions, forums and conferences, and the championship round of a student start-up competition.
Adapted from VietnamNews and VietnamPlus