Prime Minister Nguyen Xuan Phuc stressed that the Vietnamese government will create the most favorable conditions for fledgling businesses and startups, when addressing the Youth Startup Forum held in Da Nang on November 29. "A great national dream will make great businesses and great people. The young people themselves today need a bigger dream, a bigger aspiration, and that will be the reason for them to grow in the way ahead," PM Phuc stressed.
He added: "We are witnessing the entrepreneurial spirit spreading across the country, to everyone, young and old, regardless of race or ethnicity, because startup has no boundary.”
The PM affirmed that the Vietnamese government is committed to the supreme protection of intellectual property rights, initiatives and ideas for a startup business because those are the startup’s valuable and unique asset. Ministries and local authorities need to put startup support a top priority in their agenda.
PM commits to create favorable environment for young startups. Photo: Quang Hieu
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He proposed to establish a unified national startup center (in the immediate future, it can be located in Hanoi, Ho Chi Minh City and Da Nang and establish a national startup network.
Creating a playground for innovation
PM Phuc lauded the Central Committee of the Ho Chi Minh Communist Youth Union and the Vietnam Youth Federation for creating a helpful dialogue channel among the PM, government members, and young intellectuals to seek effective paths to boost startups and innovative projects.
Phuc affirmed that the Vietnamese government has always paid attention to setting up creative enterprises as one of the breakthrough in growth model transformation.
The prime minister urged the Ministries of Planning and Investment, Finance, Science and Technology to compile startup ideas to submit to the PM this December. Policy needs to be designed in line with the government of creation and initiation, to accept and share the risk with innovative enterprises, as this is a field of venture and risk investment.
At the event, representatives from the Ministries of Science and Technology, Education and Training, and Information and Communications updated participants on the policies and mechanisms in place to support startups, including measures towards further enhancing innovation in schools, connecting with enterprises, and proposing mechanisms that allow state enterprises to place orders for new and innovative products.
The PM assigned relevant ministries and agencies to consider constructive policies and mechanisms to create a legal framework and a level playing field for upcoming startups.
In the time ahead, the Vietnamese government will assign specific tasks to ministries and agencies to create the best conditions for innovation to flourish, Phuc emphasized.
