Young people should work three to five years at organisations to understand how a business run before starting their own company, delegates said at the Vietnam Young Leaders Forum 2015.
HCM City (VNA)🌃 - Young people should work three to five years at organisations to understand how a business run before starting their own company, delegates said at the Vietnam Young Leaders Forum 2015 held in HCM City on December 18.
Tran Vinh Du, CEO of TNK Capital Partner and Chairman of Vietnam-America Vocational Training College, said people at start-ups should be patient.
"Start-ups usually have limited capital, so you need to prepare detailed plans to call for investors as well as specific plans on what you will do if you receive money from investors," he said.
"I have seen start-ups in Vietnam that did absolutely nothing to prepare before trying to convince investors to fund them," he added.
Many young startups thought that their ideas were excellent and worthwhile, but as speakers at the forum said, ideas contributed only 1 percent to success, while execution represented more than 90 percent of success.
Nguyen Trung Tin, CEO of Trung Thuy Group and Dreamplex's founder, said: "The most important factor to help a start-up project succeed is market opportunities. If you have a good start-up idea but lack good market opportunities, it will be difficult to succeed."
He recommended that young people conduct market research before starting their own businesses.
Organised by the Business Start-up Support Centre in collaboration with the HCM City Young Businesspeople Association and Vietnam Youth Federation in HCM City, the forum attracted the participation of more than 600 young people and company executives.
At the forum, Le Thi Tuong Vy, representative of the Business Start-up Support Centre, encouraged young people to consult the centre about their ideas so they can seek opportunities to convert their projects into reality.-VNA
The Vietnam Chamber of Commerce and Industry (VCCI) on January 10 honoured winners of the business start-up competition 2014 and launched the 2015 business start-up programme.
The Government is pushing ahead with a programme on institutional and administrative reform in accord with its own Resolution 19/NQ-CP on improving business environment and national competitiveness.
The implementation of Government Resolution 19/NQ-CP on improving business environment and national competitiveness between 2015 and 2016 has shown encouraging outcomes in the first half of this year, said Minister of Planning and Investment Bui Quang Vinh at the regular cabinet meeting held in Hanoi on June 29.
Legal and administrative procedures were the biggest challenges facing start-up businesses, according to a forum attended by Deputy Prime Minister Vu Duc Dam on August 12.
The festival marks a significant milestone in promoting the brand, value, and legacy of traditional fish sauce - a product deeply rooted in the island’s identity and history spanning over 200 years.
According to Mastercard data, Vietnam has recorded a remarkable 92% compound annual growth rate (CAGR) in contactless transaction volume from Q4 2022 to Q4 2024.
Tuan expressed his confidence that LH, with its expertise and experience, would swiftly implement the urban area project, contributing to a modern urban landscape for the province.
With its strategic location, abundant workforce, and modern infrastructure, Vietnam holds significant potential to become a leading centre for power and electronics production in the region and the world.
The renewable energy workforce training and development centre, invested by Germany's GEO Group, is expected to be a cornerstone in shaping Binh Dinh as a renewable energy and innovation hub in central Vietnam, meeting the growing demand for skilled technical personnel in offshore wind, solar farms, and green hydrogen projects.
A notable trend is the shift toward satellite regions. With land scarcity and soaring prices in Ho Chi Minh City and Hanoi, investors are eyeing provinces like Hung Yen, Bac Ninh, and Hai Phong, which are benefiting from improved technical infrastructure and transport connectivity.
To further strengthen private-sector innovation, Bac Ninh plans to accelerate administrative reforms, build a digital, service-oriented government, and develop an integrated innovation ecosystem that connects businesses with domestic and international institutions, universities, and experts.
The participation of H&M, one of the world's largest fashion corporations, in Vietnam International Sourcing 2025 in Ho Chi Minh City in early September is considered a special highlight, opening up many cooperation opportunities for Vietnamese businesses in the fashion, textiles and sustainable supply chains.
This latest order builds on a previous agreement signed at the Singapore Airshow last year for 40 engines, bringing the total number of Trent 7000 engines ordered by the airline to 80.
Minister of Industry and Trade Nguyen Hong Dien acknowledged that despite concerted efforts by ministries and local authorities in combating fake and substandard goods, the situation remains highly complicated, attributing the persistent challenges to high profits luring numerous participants, increasingly sophisticated violations, limited resources within enforcement agencies.
The group also placed among the Top 5 energy companies in Southeast Asia and secured the top spot among the largest Vietnamese enterprises featured on the list.
The zone will cover 1,881 ha, comprising functional areas for production, logistics, trade and services, digital technology industry, information technology, and innovation.
Dung underlined several key objectives, including a comprehensive review of the legal framework governing SOEs, and called for updates that reflect international standards and support modern, transparent governance.
While the US market has become more difficult to access due to new tax policies, Australia could play the role of a trade cushion, helping to reduce shocks and maintain export momentum for Vietnam's shrimp industry.
Vietnam Cycle Expo 2025 will coincide with the Vietnam Sport Show 2025, an international exhibition on sports and outdoor entertainment, expected to attract more than 20,000 visitors in the three-day event.
At the forum (Photo: VNA)
